---
title: "New Thai Restaurant to Open in 11K SF at 321 West 51st Street"
url: https://burnaze.com/article/18c64d08-d598-425e-a1ea-6e4e7c639936
source: "Commercial Observer"
original_url: https://commercialobserver.com/2026/06/thai-restaurant-lease-321-west-51st-street/
author: "Amanda Schiavo"
category: "Restaurants"
industry: "Restaurants"
topics: ["Development & multi-unit"]
published: 2026-06-10T16:27:55.000Z
modified: 2026-10-31T13:17:09.506Z
image: https://commercialobserver.com/wp-content/uploads/sites/3/2026/06/Desi-Avidane-Ben-Biberaj-321-W.-51st-St-credit-Propertyshark2.jpg?quality=80&w=1200
---

# New Thai Restaurant to Open in 11K SF at 321 West 51st Street

**TL;DR:** SG Thai, the hospitality group behind Pranakhon, will open a new Thai restaurant in Manhattan's Hell's Kitchen neighborhood at 321 West 51st Street. The lease spans 11,000 square feet and has a 15-year term with an asking rent of $37,500 per month.

*By Amanda Schiavo, originally published in Commercial Observer on 2026-06-10. [Read the original](https://commercialobserver.com/2026/06/thai-restaurant-lease-321-west-51st-street/).*

## Story

One thing New York City doesn’t lack is a place to eat, and now there’s a new Thai restaurant from the restaurateurs behind Greenwich Village favorite **Pranakhon** coming to Manhattan’s Hell’s Kitchen neighborhood.

**SG Thai**, the hospitality group behind Pranakhon, located at **88 University Place** near **Union Square**, will open a new eatery at **Nicole Franques**’s **321 West 51st Street**.

The lease was signed in late May and spans a total of 11,000 square feet, including 6,000 square feet on the ground level and 5,000 square feet of basement space, according to **Desi Avidane** and **Ben Biberaj** from **IPRG**, who represented both the landlord and the tenant in the deal. The lease covers a period of 15 years, with an asking rent of $37,500 per month.

“Ownership is a longtime mom-and-pop landlord currently preparing the building for sale, and this transaction represents another strong indicator of the continued momentum throughout the Hell’s Kitchen and Theatre District corridor,” Avidane said. “Securing a long-term lease with an established and growing hospitality operator significantly strengthened the positioning of the asset.”

SG Thai did not immediately respond to a request for comment. The group also operates Japanese restaurant **Sozai** at **19 West 45th Street**, Thai eatery **Dagg Thai** at **10 East 39th Street**, and another Thai restaurant **One More Charm** at **236 Seventh Avenue** in Brooklyn.

The restaurant space at 321 West 51st Street was on the market for less than two months before the new lease was signed, Avidane said. The new Thai restaurant will replace Japanese eatery **Ippudo** at the building between Eighth and Ninth avenues.

## Entities

- restaurant opening (topic)
- Real Estate (sector)
- Commercial Observer (publication)
- lease agreement (topic)
- Amanda Schiavo (person)
- new york city real estate (topic)
- IPRG (company)
- SG Thai (company)
- Pranakhon (company)
- 321 West 51st Street (location)
- Nicole Franques (person)
- Desi Avidane (person)

---
Originally reported by Amanda Schiavo, Commercial Observer (https://commercialobserver.com/2026/06/thai-restaurant-lease-321-west-51st-street/). Summarized by Burnaze (https://burnaze.com/article/18c64d08-d598-425e-a1ea-6e4e7c639936).