ICONIC NYC HOTEL RESTAURANT AND COFFEE SHOP WITH LONG TERM LEASE:
(RESTAURANTS, HOTEL RESTAURANT AND COFFEE SHOP)
NEW YORK, NEW YORK
Listed Price: $ 4,000,000
Listing ID: XCNY333070
Listing DetailsGross Revenue: $ 5,000,000
Cash Flow: $ 1,200,000
FFE: $ 2,000,000 (Included in Price)
Inventory: $ 10,000 (Included in Price)
Form of Ownership: S Corp
Terms and Conditions: NEGOTIABLE
Reason for Sale:
RETIREMENT
Training & Support:
COMPLETE TRAINING AND SUPPORT but Purchaser must have restaurant management experience (see owner qualifications)
Listing SummaryBusiness Description:
Newly renovated, high volume restaurant with 147 seats and 10 bar stools in a major mid-town NYC hotel serving breakfast, lunch and dinner with bar.
This restaurant has a long-term lease with the hotel both expiring in 2027.
This restaurant located adjacent to the lobby of the hotel on the ground floor provides room service and liquor to over 900 hotel rooms, performs hotel banquet & catering duties, serves guests meals and provide food for the main bar in the hotel.
In addition, this restaurant is the beneficiary of the high walk-in traffic it gets from being street level with its own dedicated entrance on a corner location of a busy commercial mid-town neighborhood.
For dinner this busy restaurant is transformed into a bistro serving upscale food to both hotel guests, NYC tourists and locals.
Historical Summary:
This very successful, high volume restaurant has been open for over 30 years in a well known MAJOR mid-town Hotel.
Both the hotel and the restaurant recently underwent complete renovations and upgrades.
Owner Qualifications:
Prior restaurant management experience is a must. This is a very busy, high volume restaurant that the hotel depends on to provide top notch service and high quality meals to its many guests.
A buyer for this business will be required to have proven prior experience running a successful high volume establishment capable of managing all facets of the operation
Competition:
LIMITED
Potential Growth:
UNLIMITED
Financing/Terms:
NEGOTIABLE
LocationLease Expire: 2027-12-31
Lease Security: 100000
Monthly Rent: $ 41,925
Square Footage: 3000
Type of Location: Commercial
Facilities:
THE Only Restaurant in a Major Hotel with entrances both from the street and inside the hotel
OperationYear Established: 1982
Days & Hours of Operation: 24/7
Owner Hours: 30
Employees: 20
Managers: 1
Absentee Owner: No