In its listing of recent real-estate transactions, the Times reported yesterday that the owners of this franchise signed a seven-year lease for the space, which previously housed the International Bar.
From the Times:
London-based bubble tea franchise has signed a seven-year lease for its flagship shop to open this summer in a 750-square-foot storefront, with a backyard patio, in this five-story East Village walk-up. The shop will feature milk- and fruit-based bubble tea blends including Oreo Crush, along with alcoholic brews including Raspberry Mar-Tea-Ni.
The annual rent was listed at $105,000 — $8,750 per month.
The owners were seeking a full-liquor license for the address. However, CB3 denied their application last month, citing "insufficient public benefit ... for a business seeking to add tea-infused cocktails to its drink menu to sustain its business plan, in an area well-served with licensed businesses furnishing cocktails," per the minutes from that meeting.
It's not known at the moment if Bubbleology Tea is seeking a license directly from the State Liquor Authority for its Raspberry Mar-Tea-Ni and other boozy teas.
The latest iteration of the International Bar closed this past Thanksgiving. (Non-renewal of lease, via landlord Steve Croman.) The bar merged with its sister saloon, the Coal Yard, one block to the south between Seventh Street and Sixth Street.
Previously on EV Grieve:
More about Bubbleology Tea, possibly coming soon to 1st Avenue
Can someone please explain the appeal of bubble tea? I just see a suspicious milky substance with what appear to be the droppings of a small animal sloshing around the bottom.
ReplyDeletePass me a vodka martini with an olive and I'm good to go.
That's a lot of bubble tea for that kind of unrealistic rent.
ReplyDeleteGood Luck With That.
Has any one actually ever tried bubble tea? I think these places are in the same category as the foot massage parlors.... fronts for???
ReplyDelete