The team behind the famed 230 5th Street Rooftop Bar is bringing its successful rooftop concept to a new address in New York City. Rooftop Hospitality Group LLC, known for creating the iconic 230 Fifth Avenue Rooftop Bar, has signed a significant 20-year lease to launch a brand-new rooftop restaurant and lounge atop 520 Eighth Ave. This exciting expansion promises to bring a similar vibrant atmosphere and stunning city views to the Garment District, mirroring the magic that 230 5th Street Rooftop has cultivated in NoMad.
The new venue, still under wraps in terms of name, is slated to open in early 2025 and is anticipated to quickly become a sought-after destination. Like its predecessor, the 230 5th Street Rooftop Bar, the new location will boast panoramic views, this time showcasing Midtown South, the dazzling lights of Times Square, and the evolving Penn District. This strategic location aims to cater to the bustling local office crowd as well as the constant influx of tourists eager to experience New York City’s rooftop scene.
David Kaye, executive managing director of GFP Real Estate, highlighted the strategic thinking behind this move. Following lease extension discussions with Rooftop Hospitality Group at 230 Fifth, GFP Real Estate proactively sought opportunities within their portfolio for expansion. 520 Eighth Avenue emerged as the ideal choice, primarily due to its prime location near major transit hubs like Penn Station and The Port Authority, as well as iconic landmarks such as Madison Square Garden, Times Square, and Herald Square. This proximity ensures high foot traffic and accessibility, key ingredients for a successful rooftop venue.
Beyond serving as a vibrant nightlife destination, the rooftop space at 520 Eighth Avenue is designed to be a valuable amenity for the building’s tenants during the daytime. GFP Real Estate envisions the space transforming into an outdoor meeting and relaxation area for companies within 520 Eighth Ave. This dual functionality adds significant value to current tenants and serves as a powerful draw for prospective companies seeking office spaces that offer unique, on-site amenities. Matthew Mandell, senior managing director at GFP Real Estate, emphasized this point, noting the increasing demand for workplace perks that allow employees to enjoy breaks and informal meetings without leaving the building. The new rooftop restaurant and lounge, therefore, is expected to elevate the overall appeal of 520 Eighth Ave, attracting new businesses seeking a competitive edge in employee satisfaction and workplace environment.
To bring this vision to life, Rooftop Hospitality Group will undertake significant construction to create a fitting space. Plans include installing a state-of-the-art floating deck system and constructing dedicated kitchen and restroom facilities for guests. GFP Real Estate is also investing in building modifications, extending one of the building’s elevators to directly serve the rooftop. This will ensure easy and dedicated access to the rooftop via two elevators, with a private entrance planned on 36th Street for restaurant patrons.
The original 230 Fifth Avenue Rooftop Bar has set a high bar for rooftop experiences in New York City. Spanning an impressive 33,000 square feet of indoor and outdoor space, it holds the title of the city’s largest rooftop bar. Since its establishment in 2006, 230 5th Street Rooftop has become a beloved fixture in the Flatiron/NoMad area, attracting both locals and tourists year-round. Known for its lively atmosphere and seasonal offerings, 230 5th Street Rooftop is particularly famous for its summer frozen drinks and winter hot cocktails, alongside unique features like heated igloos and signature red Snuggies during colder months. This established success provides a strong foundation and proven formula for the new venture at 520 Eighth Avenue.
The lease transaction was skillfully handled by David Kaye and Matthew Mandell of GFP Real Estate, representing the landlord, GFP Real Estate, and the tenant, Rooftop Hospitality LLC. 520 Eighth Avenue itself is a significant 26-story office tower built in 1926, encompassing over 860,000 square feet in the heart of New York City’s Fashion District. Its strategic location near key areas like Hudson Yards, Herald Square, and Penn Station, along with excellent access to various subway and transportation lines, further solidifies its appeal as a prime business and leisure destination. The upcoming rooftop venue by the creators of 230 5th Street Rooftop is poised to become another jewel in New York City’s vibrant rooftop scene.
