A retail building on the corner of Washington Street and West 12th Street in Manhattan, home to Jonathan Waxman’s acclaimed Italian brasserie, Barbuto, has been sold to a new owner for more than $70 million, reports The New York Daily News.
Since it opened more than a decade ago, the restaurant has become a city icon.
According to The New York Daily News, the buyer, led by real estate developer Harry Jeremias of the Hatch Group, has been buying up “key sites in Chelsea and the Meatpacking district” as the neighborhoods become trendier.
It remains unclear what impact the new buyer will have on the restaurant, though The Daily News speculates that the possibility of attracting a tenant who might net-lease the property for “a trophy retail location or flagship near the High Line.” When the building was last purchased seven years ago, it sold for $28 million.
The Daily Meal has reached out to chef Waxman for comment.