Seaport Entertainment signs lease for GITANO NYC at Pier 17, advances F&B internalization

Seaport Entertainment Group Inc.

Entered into lease agreement with Grupo Gitano for 13,605 sq ft at Pier 17 for GITANO NYC, first permanent NYC dining and nightlife venue.
Hired CCMC employees and entered shared services agreement at $1/month; SEM may acquire 100% of CCMC by June 30, 2025.
Company owns 25% indirect interest in Jean-Georges Restaurants and holds warrant to acquire up to additional 20% (not exercised).
Warrant exercisable since March 2022, expires March 2026; $10M paid toward exercise price, used for Jean-Georges working capital.

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