The listing at Meridian Capital Group says this about the 300-square-foot space:
... perfect for any to-go/takeout conceptsGreat frontage opportunityHigh ceilingsSteps from Union Square with 24/7 foot traffic
Asking rent: $3,995.
A cafe called Stella Breeze was here for several months, closing up earlier this year.
As far as we can recall (and a look at Google Street View confirms), this was previously an entrance to the residential building.
9 comments:
Ah, the ever-popular phrase "Steps from Union Square"! Yes, MANY steps from Union Square ... a long cross-town block plus 1.5 north/south blocks.
And come on: $4,000/month rent? How many coffees would you have to sell to cover the rent, much less to make any money for yourself? It's absurd!
How in the world is that entry way ADA compliant?
Setting aside the completely ludicrous $4k asking price, this is the kind of space that if it were in a Japanese metro, it would be uniquely converted into a super cool, super unique concept. I realize the parasite landlord class doesn't think this way, but if it were my I'd make this a rotating shop storefront, take applications for different ideas (a new one every 3 months or so), and work out a cheaper rent / rev share model to encourage some crazy entrepreneurial spirit.
Assuming a $5 coffee on average (drips are now $4 in the EV, sadly), that's that's 800 to sell before costs. Let's say you can get a 70% margin based on some ChatGPT COGS math and that's ~1150 coffees to sell to break even, not including other utilities or labor (or taxes). Let's just double the number to cover those costs as an estimate. That's 2300 coffees, or 77 a day or, if you're open 8 hours a day, 10 an hour, every hour, every day.
And at best you're paying yourself way below median HHI.
Like your idea, MTA614!
Market dictates rent. Can't force someone to pay a commercial rent they don't want to.
That is a great idea. Kind off reminds me of the many super cool shops we used to have before the rise of the uberpredatory capitalist landlords.
Barista wages are around $25 an hour, so that´s $200/day + $133 in rent + say $30 utilities because that espresso machine takes some power + ice maker or buy ice + depreciation + maintenance + garbage carting + insurance. Good luck with those 10 cups an hour :)
Liquor license??
Post a Comment