By: Jerome Cardenzia
Kushner Cos. has announced the signing of a new tenant for the ground-floor retail space at The Lofts at Pier Village. As reported by the Asbury Park Press, veteran restaurateur David Mizrahi will open a trendy kosher steakhouse with the name Salt Bar and Grill. Mizrahi already owns the LBK Grill at Wave Resort across from The Lofts in Long Branch, NJ, and two additional restaurants in Lakewood, NJ.
The restaurant owner has signed a lease agreeing to take on the 5,500-square-foot space at the Lofts luxury condos at Pier Village, and is on schedule to open Salt Bar and Grill in the spring, as per a spokesperson for Kushner Co. The space will reportedly include a bar, a wood-fired oven, and a meat-aging fridge, and will also offer Shabbat meals. A report from Yeah that’s Kosher, has shared that the steakhouse has tapped Chef Pinchas Frank, formerly of Entree in Lakewood, who is a graduate of the Culinary Institute of Jerusalem.
The Salt Bar and Grill is the second tenant signed up for the ground-floor retail space being developed under The Lofts. The first signed tenant was ice cream sandwich specialist The Baked Bear. The Baked Bear is a franchise which began in San Diego and has now branched out to open 30 locations throughout 10 states. It has agreed to occupy a 1,640-square-foot space beneath the Lofts, which will be its first in New Jersey location. The store is reportedly slated to open in early 2021.
The Lofts, under constructed by Extell Development since 2017, are luxury condos which are part of the final phase of Pier Village. The beachfront development includes hotels, residences, retail and restaurants. Construction of the condos has not yet been completed, but sales of the units have begun. There will be a total of 245 posh condos, with prices ranging from $569,000 to $3.5 million. Notably, a penthouse unit has already been sold for $2.8 million.
Over the summer, Extell sold most of its stake of Pier Village to its partner Kushner Cos. It did however keep ownership of The Lofts’ condos, as per a report by The Real Deal. The Asbury Park Press independently confirmed the sale. Kushner Cos. owns the roughly 40,000 square feet of ground-floor retail space beneath The Lofts. The reports indicate that about 20 percent of that retail space has now been leased out.