Fresco by Scotto renews 10-year lease at 485 Madison as Midtown redevelopment looms

Fresco by Scotto has signed a 10-year lease renewal at 485 Madison Avenue, the family-owned Italian restaurant announced, extending a partnership with longtime landlord Jack Resnick & Sons even as a major Midtown redevelopment that will alter the block approaches.

The renewal, brokered by in-house Resnick representatives Brett Greenberg and Adam Rappaport and Savills agents Ken Ruderman and Jeff Lagowitz for Fresco, keeps the restaurant in its East Midtown location where it has operated since 1993. Rosanna Scotto, the restaurant's co-owner and a New York television anchor, said the landlord “really worked with us” on the deal but declined to disclose financial terms. “The Resnicks are part of our family,” she added.

Fresco opened in 1993 with Scotto's mother Marion and her children, LJ and Jenna Ruggiero, and has remained notable for its ornate dining rooms and Italian cuisine in a neighborhood where many restaurants have struggled to survive. The renewal comes as the restaurant prepares to introduce Saturday brunch with a live DJ in October.

The lease extension occurs against the backdrop of a large-scale development planned directly adjacent to 485 Madison. Developers including Vornado Realty Trust, the Rudin family and billionaire Ken Griffin plan a 1,600-foot tower at 350 Park Avenue. The project, which lists two separate Citadel companies as anchor tenants, will require demolition of three buildings, one of which sits directly against 485 Madison.

Scotto said she and her partners have been in discussions with the developers about the construction, and that the developers have committed to being “cognizant of and sensitive to our needs.” She acknowledged that the restaurant's facade will likely be covered by scaffolding when demolition begins next year but said she hopes the work will be handled carefully.

Jonathan Resnick of Jack Resnick & Sons said the lease renewal reflects the landlord's interest in supporting long-standing local businesses. “As a family-run firm that’s been around for nearly 100 years, we understand what an achievement it is to maintain a successful business across three generations. We are thrilled to extend our partnership with Rosanna, LJ and Jenna well into the next decade,” he said.

The planned 350 Park Avenue tower would be taller than JPMorgan Chase’s new headquarters tower and is among several large office projects reshaping Manhattan's skyline. Developers and city planners have highlighted potential economic benefits from such projects, including new office space and increased tax revenue, while nearby tenants and small businesses have raised concerns about construction impacts and long-term neighborhood change.

Fresco's renewal highlights the tension between preserving established local institutions and accommodating large-scale redevelopment in Midtown. The restaurant’s ability to secure a decade-long lease suggests a degree of accommodation between landlord and tenant that developers and property owners often seek to maintain as projects advance.

Savills’ Ruderman and Lagowitz represented Fresco in the lease negotiations, which industry sources said involved attentive discussions about how construction and eventual demolition on adjacent lots would affect street access and storefront visibility. While the deal secures the restaurant’s tenancy for a decade, it does not eliminate the potential for temporary closures or modifications to the dining room during nearby demolition and construction phases.

Fresco’s renewal is one of several recent lease outcomes in Midtown as property owners, tenants and developers negotiate amid a mix of new construction and efforts to retain long-established businesses. The restaurant’s leaders said they view the extension as a commitment to continuity even as the surrounding streetscape is altered by the 350 Park Avenue project, which is expected to advance into demolition and construction phases next year.