Every few weeks, Eater Nightlife Real Estate Guru-in-Residence Steven Kamali serves up a 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. Also, take a look at this photo: Kamali says hi.
Venue: Badlands Adult Book/Video Store, 388 West Street
Kamali: “I never thought the time would come that Badlands Adult Book/Video Store would decide to pack it in, but that day has come. In darkness there is light -- or should I say night! Do your part in the continuing gentrification of the West-Side Hwy and open a damn restaurant/nightclub here already.”
Size: 2,650 SF Ground Floor, 2,650 SF Rooftop
Kamali: “After conferring with an expert expediter, we have found that the highest potential legal occupancy for the space is 140 persons per floor. Bear in mind that number changes based upon a number of factors such as the number and size of tables, chairs, the bar, kitchen, etc. Plus, it works for us that the number is a bit low -- we'll use that as leverage.”
Asking Rent: $40K/Month; $125 PSF Ground Floor, $65 PSF Rooftop Space
Kamali: “You're not actually going to ask me to comment on the value of a second floor outdoor space overlooking both the Hudson River and Christopher Street, are you?”
Frontage: 89’ feet on West Street, 30’ feet on Christopher Street, 80’ feet on Weehawken Street
Kamali: “No I’m not kidding. Are you? The opportunity to create frontage/signage on 3 sides depending on what type of establishment you’re looking to open is unheard of. Say you want to take a page out of the Freemans playbook and create an entrance on Weekhawken and offer no signage? This is your place. Or say you want frontage as far as the eye can see? No problem there either."
The Hard Sell: Single Story Building with Water Views
Kamali: “First of all, your neighbors include The Spotted Pig, Café Cluny, Socialista, Employees Only, Waverly Inn, and Perry Street, just to name a few. Everyone in the restaurant business is interested in developing a draw for their restaurant, and here, the Hudson River and the rooftop, I'm putting two on a platter for you. Sure there's no liquor license, but that's a detail—and a detail which means no key money. Yahtzee! If anyone can walk you through that -- for a fee, of course -- it's me. Do me a favor and stroll the neighborhood. I will literally hold your hand and we'll walk together, if you want. This is the kind of property that comes along once in a lifetime. I you don't want it, I'll call Taavo Somer and have him do Freemans West. Going once?”
