Nursing your inner Noah Tepperberg? Here's an intriguing PDF from club consultant/real estate facilitator Stevens & Co. spotlighting Manhattan clubs and restaurants that are currently up for sale. Some intriguing options on the list—try 34th Street club CODA (17 year lease, $17,000/month) or East 58th Street hang The Web (8 years, $21,600/month, cabaret license). Innnteresting.
However, our tipster's eye is drawn to Lower East Side restaurant Tenement. Despite—or perhaps because of—its location directly across the street from teeming hipster bar Pianos, it has never quite caught on in the neighborhood. Our tipster runs the numbers: "Its space is for rent for $14,500 per month for a 10 year lease, with 3% annual escalation. Full liquor license and sidewalk cafe zoned. Oh, and a $400K 'fixture fee' —isn't that another word for key money? I guess you could argue that the kitchen equipment, etc., is worth it, as well as the liquor license."
Perhaps so. If you're inclined to agree, opportunity knocks. Then orders three bottles.
· Properties for Sale [Stevens & Co, PDF download]
