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The Hard Sell: Double Happiness, 173 Mott Street

Once a week, or so, Eater Nightlife Real Estate Guru-in-Residence Steven Kamali will be giving you the virtual tour of one of his fine properties. As you know, he is the broker of record on many a fine NY nightlife establishment, many of which change hands like clockwork every 36 months. Should you want to buy one of these gems, please be in touch with The Grim Reaper directly; we're not here to make money off of your failed nightlife ventures.

2006_11_thehardsell.jpgVenue: 173 Mott Street; Double Happiness & Palais Royale
Kamali: “This is a special two-for-one deal. In one fell swoop pick up two of downtown's best bars.”

Rent: $13,500 per month
Kamali: “A mere pittance, considering the following these venues already have. On the private parties alone, you’ll have no trouble paying your partner, the landlord.”

Term: 8 years, plus a 2 year extension
Kamali "As good as it gets, baby! Keep in mind that 10 years is considered a full term lease.”

Fixture Fee: $450,000
Kamali: “Fixture fees are what the seller gets for the value of his FF & E (furniture, fixtures and equipment). Hey it beats buying another Maybach, no? In all seriousness, it is priced to sell. In fact there are multiple parties currently interested with offers on the table, so it's now or never, my good man.”

But Wait, There's More: (2) Full Liquor Licenses
Kamali: “That is one license for each level of the space, allowing you the opportunity to operate it as to separate entities. What's the sweetest phrase in the english language? Bar and Lounge.

The Hard Sell: “Talk about legendary. This downtown watering hole buys you a piece of history in the next “IT” neighborhood in Manhattan. Nightlife gentrification at its best! Act on your New Year's resolution now: this one won't last!”
· The Hard Sell: 452 West 17th Street [~E~]
· The Hard Sell: 143 Madison Avenue [~E~]

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