Brick Oven Pizza Trattoria Bar In Manhattan For Sale

Business description

PRICE JUST REDUCED FROM $360K to $270K due to illness. BAR - TRATTORIA - COAL FIRED BRICK OVEN PIZZA NAPOLETANA. Just as current owner was on his way to rebuilding this recently purchased 30 year business under a new name, his father/partner became ill. FULL LIQUOR LICENSE AND 9 YEARS LEFT ON THIS PRIME MANHATTAN LEASE (4 more years at $19K/mo before annual increase in years 6-10 of only 3%/yr). Inviting dining room & bar, rare brick ovens and kitchen all on 1800 sq ft ground floor. HIGH QUALITY FOOD AT A GREAT VALUE. Office, storage and changing area in 1800 sq ft basement. ENCLOSED OPEN AIR SIDEWALK EXTENSION recently added under grandfathered permit. THIS RESTAURANT IN THIS NEIGHBORHOOD SHOULD BE DOING $30-60K/week instead of the current $15-20K. Further marketing and some improvement in service could make the difference, as the authentic pizza, tasty entrees and single plates deliver the classic flavors of Italy with the refinement of NYC cuisine . TAKE OUT AND DELIVERY account for 35-40% of sales. BRANDED COCKTAIL MENU could use a popular bartender to go with it. Did you know that fresh homemade mozarella melts best in the 900 degree heat of a coal fired brick oven? SELLER FINANCING AVAILABLE.

Property information

Real Estate:

Lease

Other information

Support & training:

yes

Reasons for selling:

health issues and financial restraints

Financing available:

180,000 down & $90,000 at 7% over 4 years

Furniture / Fixtures value:

$125,000

Inventory / Stock value:

$10,000