Fresco Restaurant: Lease Renewal & Midtown Development

Jonathan Resnick stated, “As a family-run company that’s been around for nearly 100 years, we recognize what an accomplishment it is to keep an effective organization throughout 3 generations. We are thrilled to extend our collaboration with Rosanna, LJ and Jenna well right into the following years.”.

Fresco’s Long-Standing Success

Scotto, who declined to review terms, said, “The Resnicks belong to our household.” Her actual household– including mother Marion and Rosanna’s kid and daughter LJ and Jenna Ruggiero– opened Fresco in 1993. Since then, its lovely dining rooms and top-flight Italian cuisine have shown unusual staying power in the unstable East Midtown dining establishment scene.

New Development Threat

Yet both Fresco and 485 Madison itself are in a perilous place. The structure adjoins the planned advancement of a brand-new 350 Park Ave.– a mega-project by Vornado Real estate Trust Fund, Rudin and Ken Griffin, whose 2 different Citadel companies will certainly be the anchor lessees.

Breakfast Launch & Lease Deal

When prominent Italian restaurant Fresco by Scotto launches Saturday breakfast with a live DJ for the very first time in October, it could be an event of something valuable in Midtown– a 10-year lease revival with a simpatico landlord.

Fresco co-owner Rosanna Scotto, additionally recognized for her Network 5 gig on “Great Day New York,” claimed 485 Madison Opportunity owners Jack Resnick & Sons “really worked with us” on the offer. (Resnick was represented internal in the renewal by Brett Greenberg and Adam Rappaport. Savills’ Ken Ruderman and Jeff Lagowitz represented Fresco.).