Listing Number: 6842-88517
This traditional Italian restaurant on Manhattan’s Upper West Side has been a neighborhood favorite since opening in 2008. With a warm interior of exposed brick walls and wood floor, it comfortably seats 52 and features outdoor café seating in season. It is located a short walk from Central Park and some of New York’s favorite museums which means traffic from the neighborhood and tourists as well. Their menu is a blend of different styles and flavors from all over Italy, and all pasta, ravioli and gnocchi are made in-house. The current liquor license is for wine and beer but this location has had a full liquor license in the past.
Hours: Open Monday-Friday 3pm-11pm. Saturday-Sunday 11am-11pm, including Brunch.
Lease: 9.5 years remain on the ten-year lease. There is also a five-year renewal option. Rent is $12,000/month, not including real estate taxes. 1,200 square feet on the ground floor plus basement storage.
The Transaction: The deal structure will be an asset sale. The reason for the sale is the seller's desire to relocate out of state. Owner will train for two weeks at no charge. Seller financing may be available to qualified buyers. Offered at $325,000.
- Price: $325,000
- Down Payment: $250,000
- Sellers Discretionary Earnings: $160,000
- Total Sales: $800,000
- Location: New York, New York
- Inventory: $1,400
- FF&E: $75,000
- Employees: 4
- Year Established: 2008
- Reason for Selling: Relocating out of state.
- Category: Restaurants