The Bruckner Building, 2417 Third Ave., in the South Bronx

NEW YORK CITY—A catering company's current location at 304 Hudson St. in Hudson Square is being demolished so Disney can build its 1.2 million square-foot headquarters. So, Great Performances is heading to the Bruckner Building at 2417 Third Ave., in the Mott Haven neighborhood of the Bronx. They plan to move into their new space, occupying the first and third floors, this summer.

The tenant signed a 20-year lease for 40,841 square feet with the building owners, a joint venture of Savanna and Hornig Capital Partners. The asking rent was in the high $20s per square foot.

Originally founded in 1980, now with 250 employees Great Performances is a leading caterer and event planner. It works with major institutions such as the Plaza Hotel, Jazz at Lincoln Center, the Brooklyn Museum and the Apollo Theater. For its next act, the company is leaving a coveted area of Lower Manhattan to plant roots in the South Bronx.

“The space there will enable us to build a new state-of-the-art facility that will incorporate significant production and energy efficiencies, one that will be designed to accommodate our continued growth,” states Liz Neumark, founder and CEO of Great Performances. “And we're looking forward to becoming an integral part of what is a dynamic, emerging neighborhood.”

The company will use its new space for a large institutional kitchen, bakery, and training facility as well as for its operations. The company will provide space for the Sylvia Center, a non-profit that educates people on nutrition, healthy eating and cooking. The Sylvia Center will also run a coffee shop that's open to the public.

Savanna and Hornig acquired the eight-story, 175,000 square-foot Bruckner Building from Madhatters Realty for $30.6 million in March 2015, according to Real Capital Analytics. The owners recently completed a $12 million renovation. They updated the lobby, entrance, windows and façade, and added new elevator mechanicals and a new hallway for tenants.

“Following our capital investment to significantly upgrade the property, we've been successful in attracting a diverse array of tenants to Mott Haven,” says Tom Farrell, managing director of Savanna. “When we made this investment, we were on the leading edge of a significant wave of growth that is now evidenced by major residential and commercial projects in the neighborhood, as well as the very important small businesses like restaurants, cafes, and bars that make the streets feel alive and exciting.”

Cushman & Wakefield's David Lebenstein and Debra Wollens advised Great Performances. Savanna and Hornig were represented by Cushman & Wakefield's Mitch Arkin and Omar Sozkesen and JRT Realty's Ellen Israel and Lauren Calandriello.

“Great Performances' move to the Bruckner Building is not only a terrific opportunity for their business, but also for the South Bronx,” says Lebenstein, who leads Cushman & Wakefield's not-for-profit advisory group. “The company will add great job opportunities in the neighborhood and offer supportive services through the non-profit, the Sylvia Center, which the company helped establish 12 years ago and continues to actively support.”

The brokerage notes that tremendous development activity in the neighborhood has attracted not only businesses and residents but also institutional capital.

Instant Insights /

Leading Catering Co. Moves to Bruckner Building in South Bronx

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