As promised, we called in a nightlife and hospitality guru to Break Down the asking price for Rififi. Without further ado, Guru! "Check my math, but $72/sf. Not a great deal. Danny Meyer's deal at Gramercy Tavern is $20. So is Batali's at Del Posto. Those are below market. Looking for top restaurant real estate now? $200/sf. $72 is okay, but not great deal for a bar. As far as the $300k key money, depends on what they are leaving in there. Should have no problem transferring the liquor license in that neighborhood. You could do some bargaining and a total face lift and get something open for less than half a million." We like a good bargain, but we love having fun more than hard work. This may not be the spot for us.
Friday, October 19, 2007
Break Down: Rififi
As promised, we called in a nightlife and hospitality guru to Break Down the asking price for Rififi. Without further ado, Guru! "Check my math, but $72/sf. Not a great deal. Danny Meyer's deal at Gramercy Tavern is $20. So is Batali's at Del Posto. Those are below market. Looking for top restaurant real estate now? $200/sf. $72 is okay, but not great deal for a bar. As far as the $300k key money, depends on what they are leaving in there. Should have no problem transferring the liquor license in that neighborhood. You could do some bargaining and a total face lift and get something open for less than half a million." We like a good bargain, but we love having fun more than hard work. This may not be the spot for us.
but if there's no liquor license (because it was revoked, and expires at the end of the month anyway) then how does that factor into it?
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