Samudhra Leases 10K SF at Hell’s Kitchen’s Ellery Tower

Samudhra Leases 10K SF at Hell’s Kitchen’s Ellery Tower

New Jersey-based hospitality group Samudhra is expanding its footprint into Manhattan with a new 10,000-square-foot lease at The Ellery, located at 312 West 43rd Street. The property is owned by a joint venture between Taconic Partners and National Real Estate Advisors. This marks the restaurant operator’s second location in the United States, following its inaugural site in Franklin Park, New Jersey.

The ground-floor space will house a premium Indian dining and lounge concept, adding to the mixed-use environment of the Hell’s Kitchen building. George Tsapelas, senior vice president at Taconic, indicated that the addition aligns with the ownership’s strategy to curate a dynamic retail and residential mix that serves both local residents and the wider neighborhood.

While specific financial terms of the lease were not disclosed, the transaction provides insight into the current value of retail assets in the area. According to CBRE, the asking rent for prime retail space in the nearby Times Square corridor—specifically along Broadway and Seventh Avenue between 42nd and 47th streets—stood at $1,400 per square foot in the second quarter of 2026.

The leasing deal was negotiated by a team from CBRE, including Lon Rubackin, Michael Kadosh, and Bevan Cohen, representing the landlords. Brad Schwarz of Lee & Associates represented the tenant. Samudhra founder and CEO Mangesh Chinthamaneni highlighted the location as an ideal setting to introduce the brand to a broader New York City audience.

This latest leasing activity follows a significant retail agreement at the same address roughly one year prior. In late August 2025, German grocery chain Aldi signed a 25,000-square-foot lease on the building’s ground floor as part of its national expansion strategy.

As of the latest market close, CBRE Group, Inc. is trading at $151.40, reflecting a minor decline of 0.46%. The company operates globally across advisory services, building operations, and real estate investments.

What to watch

• Future retail lease announcements at The Ellery and the surrounding Hell’s Kitchen submarket.
• Samudhra’s projected opening date and subsequent performance in the New York market.
• CBRE quarterly reports for updated data on Manhattan retail asking rents and occupancy rates.

Source: original release