The new location is a smashing one, with a 31-story tenant base at the ground floor of the Emery Roth & Sons–designed scraper owned by Cohen Brothers Realty Corporation.

"They will get the space in September and will redesign the whole place," said Faith Hope Consolo, chairwoman of the retail leasing and sales division at Prudential Douglas Elliman, who represented Cohen Brothers Realty in negotiations with restaurateur Mr. DeGrezia, who was represented by Jack Valensi, of Valensi Realty.

The asking rent for the 13-year lease came to about $275,000 per year (or $125 a square foot), according to  Mr. Valensi, who said the taking rent was, not surprisingly, lower than the asking. Mr. DeGrezia could not be reached for comment, but New York writes that Ristorante DeGrezia's "skillfully prepared" northern Italian food, with its use of butter instead of olive oil, and the below-street-level boite's "formal elegance ... don't come cheap, but judging by the number of serious business meetings and restrained celebrations that take place here, it's a price many consider well worth paying." 

Pat Heraty, owner Ashton’s, said he was in negotiations for an even larger space, with a patio, at 825 Third Avenue.  He said Ashton's has been at its current, and until now only, location since June 5, 1994.