A prominent former Red Lobster space in Times Square is set to be transformed into a new restaurant complex featuring two popular eateries. The Smith, an American brasserie, and Parla, a slice shop, will open a joint location at 582 Seventh Ave., formerly occupied by the seafood chain.
Corner Table Restaurants, the operator behind both establishments, has signed a 17,000-square-foot lease for the two-level space. This marks the first time The Smith and Parla will operate under the same roof. The new complex is slated to open in early 2028 and will offer a combined 300 seats.
The development signifies a culinary shift in the area known as 42BELOW, a district roughly bounded by West 30th and West 42nd streets between Sixth and Eighth avenues. Food and beverage storefronts in this neighborhood have seen a 15.3% increase over the past two years. Patrick A. Smith, vice-chairman at JLL, which represented developer RXR in the lease agreement, noted that the signings reflect "the culinary energy of 42BELOW" and that Corner Table "saw a huge opportunity in this burgeoning neighborhood."
RXR is currently converting the building, formerly known as 5 Times Square, from offices to as many as 1,250 rental apartments. The addition of The Smith and Parla is expected to contribute to the evolving character of the Times Square vicinity.