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.
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10-19-07, 04:10 PM
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.
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