‘CAVA’ Readies Fast Casual Mediterranean Outpost at New 50 Spring Street Development
The second coming of 50 Spring Street is nigh. Down came the pre-war tenement one year ago. In its place, this two story brick box, and a big-time commercial occupant.
Word on the street is that fast-growing CAVA is on deck to open a new outpost here. The fast-casual restaurant – second in Manhattan for the brand behind the Union Square location – specializes in Greek Mediterranean cuisine.
The company began life eleven years ago in Washington, D.C. as Cava Mezze, and is amidst a sizable growth spurt. Meaning, aggressive expansion. It has since raised upwards of $96 million in venture capital funding, according to Chief Executive Brett Schulman. CAVA is reportedly on track for an additional 20 restaurants in 2017, bringing the nationwide total to over 40.
We started in DC with three Greek friends who wanted to share the thoughtful ingredients and bold Mediterranean flavors they grew up loving — so that’s exactly what they did. Now you can find our fast-casual restaurants full to the brim with all the bright, craveable ingredients you need to build a meal that fits your food-style, cravings, and appetite. Want to bring your own inspired recipes to life? Our chef-crafted line of dips + spreads are waiting for you on the shelves of Whole Foods and specialty markets nationwide.
The imminent appearance of CAVA is probably not welcomed by the popular local chain Taim, which is located catty-corner from 50 Spring Street.
KLM Equities purchased the four-story tenement predecessor in August 2015 for $13.7 million. The buyer of record is a real estate development and management firm that owns several downtown properties in the vicinity.