The Reel

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A blog for breaking sales and neighborhood real estate news.

February 29, 2016 | New York Post | Lois Weiss

An unidentified investor has forked over $10 million to buy the small building housing the iconic Rao’s Italian restaurant, The Post has learned — and didn’t even get a reservation for one of its closely guarded tables.

The sale of the 22-unit rental property and leaseback of its 1,200-square-foot space by the extended Rao’s family will ensure the beloved restaurant remains at 455 E. 114 St. on the northeast corner of Pleasant Avenue in East Harlem for decades to come.

Most folks will never get to savor the fare of the always fully reserved eatery, where an exclusive group of mostly New Yorkers have “table rights” for each of the 10 tables for every day of the week...

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Neighborhoods: Harlem