Global media and hospitality company Time Out Group is opening its second Time Out Market location in New York as part of a plan to expand the curated food hall concept globally.
The location, spanning 10,000 square feet and featuring a mix of the city's culinary talents, is expected to open in the fall at Zero Irving, a 21-story mixed-use office development at 124 E. 14th St., London-based Time Out Group said Thursday in a statement. The food hall will showcase seven kitchens, a bar, a stage for cultural experiences, and about 300 seats.
Time Out Market, billed as the world's first editorially curated food and cultural market, opened its first New York location in 2019 in Brooklyn's Dumbo neighborhood. There are nine other locations in U.S. cities, including Chicago and Boston, and overseas in locales including Lisbon, Portugal; Barcelona, Spain; and Cape Town, South Africa.
In addition to the Zero Irving location, Time Out Market plans to debut six other food halls between 2025 and 2027 in international markets including Osaka, Japan; Vancouver, Canada; and Abu Dhabi, United Arab Emirates.
Time Out Market’s current locations operate under a mix of company-owned-and-operated models and management agreements. The company gets all of the U.S. location's site profits and owns and operates them. The six new international locations are expected to have revenue-sharing agreements where Time Out Market doesn’t contribute to the capital cost of the site.
The company said it’s in talks to open more food halls.
Zero Irving’s current food hall will remain open until the end of March, before the space will be closed and undergo “updates and improvements” for Time Out Market, developers RAL Cos. and JRE Partners said Thursday.
The building was completed in 2022 in response to a New York City Economic Development Corp. competitive request for proposals process on city-owned land. The developers are currently seeking to have its 99-year leasehold interest sold or equity partners added, CoStar News exclusively reported this week.