This cozy, intimate Italian restaurant featuring classic cuisine on Manhattan's Upper East Side is priced to sell quickly by an owner who is ready to retire. Four stars on Yelp and others. Reasonable rent with 6 years remaining on the lease. It is a heritage neighborhood restaurant for two generations. It has been in this location for 10 years. The current owner manages the restaurant greets guests personally on a daily basis.

Open: Tue-Thu 5-10:30pm, Fri-Sat 5:30pm-11pm, Sun 4:30-10pm. Closed Monday

Strengths & Opportunities: This restaurant is in a great, growing neighborhood but is run “old school.” Open only six days a week, does not serve lunch or brunch, is not a participant in Seamless Web or GrubHub, does virtually no marketing and does not do catering. All of this adds up to tremendous growth opportunities for an aggressive new owner.

Lease: 1,000 sf total, 700 ground floor plus about 300 sf basement. Rent is $6,190/month plus real estate taxes. Six years remain on the lease.

The Transaction: The deal structure will be an asset sale. The reason for sale is the sellers’ desire to retire. Owner will train for two weeks at no charge. Asking price is $120,000.

Posted Sep 4, 2014

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