Thursday, December 2, 2010

Cafe Hanover's asking price: $50,000 per month

Cafe Hanover quickly flamed out at the former Mondo Kim's space on St. Mark's Place... here's one possible reason: The rent for the two levels here is $50,000 a month... For lease signs are up now on the front doors...




I looked at the listing online:

Size: Ground Floor (3,000 Rsf), Plus Full Basement (3,000 Rsf) Term: 5-19 Year Sublease Rent: $33,750 Per Month No Key Money! Fully Equipped Restaurant/Deli In One Of The Busiest Streets. Basement Includes A Fully Equipped Kitchen, Including Hood, Venting, Modern Ovens, Huge Walk-Ins, And New Structural Beams. Leased At $135 Psf, Or $33,750 Per Month. Optional 2nd Floor Lounge/Bar With Operating 4 Am Liquor License. 2nd Floor (3,000 Rsf) @ $80 Psf, Or $20,000 Per Month. Total Space, Consisting Of Ground Floor (3,000 Rsf), 2nd Floor (3,000 Rsf) And Basement (3,000 Rsf), Asking $50,000 Per Month


And, not until I took the photos above, did I ever realize there was some place called JD's Bar on the second floor...



And where exactly is 2U (U2) Karaoke in this funhouse?

3 comments:

Goggla said...

When will this insanity stop?? I just read today that the unemployment rate is now the worst it's been since WWII. Who has this kind of money?

Bowery Boy said...

I don't see why this real estate firm gets to sell a liquor license with the place when the City needs the money. If you close up shop, the license should go, and then the new folks should have to buy their own. Local citizens are being robbed.

Jill said...

Bowery Boy I don't understand your comment but I agree with the sentiment. No matter who owns the license, the state still gets their $5k or whatever every two years or so. It's not the state that loses the fee, it's the landlord and the former owner that get the big payoff. With apartments it's called key money. With liquor licenses it's called buying a business, except the only asset they are buying is the license.