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Listing #S127248

Brooklyn Restaurant Bar/Lounge - Wow!

Another Great Business From Prime Restaurant Broke

Huge price drop! Seller will finance up to $100k for well qualified buyer! That means just $114k down gets you a fantastic Brooklyn restaurant/bar/lounge with a beautiful "New York City" decor? This is it. Upscale place in a great location with plenty of exposure on main thoroughfare in Brooklyn. The reputation / sales of this young place is consistently growing. No other place like it around. Keep it the same concept and watch it continue to grow or bring you own bar / lounge / restaurant. This decor will work well with lots of concepts.
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Primary Business Category: Restaurants, Bars & Other Food Services (SIC 58, NAICS 722)
Location: New York
Metropolitan Area: Brooklyn
Listed by: An Intermediary
 

Financial Information

Gross Revenue: $420,000 Asking Price: $214,000
Current Year Projected Revenue: Not Disclosed FF & E (included): $195,000
EBITDA: $81,000 Inventory (included): Not Disclosed
Current Year Projected EBITDA: Not Disclosed Real Estate (included): Not Disclosed
Profitable: Yes Transaction Sought: Not Disclosed
Business Type: Not Disclosed Payment Requested: Not Disclosed
Financials: Not Disclosed Seller Financing Available: Not Disclosed
 

Company Information

Year Established: 2008 Home Based: No
Number of Employees: 6 to 10 Franchise: No
Management: Available to Stay through Transition Distressed: No
Non Compete Agreement: Not Disclosed Relocatable: No
Reason for Sale: New Opportunity
Fiscal Year End: Not Disclosed
Ownership: Not Disclosed
Contact Seller E-Mail Listing Print

Facilities

Facilities Description: Great location with plenty of street exposure. Absolutely beautiful decor that can be used for any upscale concept. A very New York City type place in the middle of Brooklyn. 2,200 sq. ft, 14 seat bar, 80 seat dining / lounge. 150 person capacity. Lease Terms: Four years left on the primary term and an additional five year option. Rent is $5200 per month.

Market Share

Market Description: Two huge construction projects in the area (one directly across the street) going on that will drastically increase the already rising sales. Growth Oppurtunities: Sales are consistently increasing as the businesses reputation grows. In addition, two huge construction projects in the area (one directly across the street) going on that will drastically increase the already rising sales. Future growth could include opening for lunch and catering business.

Other Information

Financing: Yes - Seller is willing to finance up to $100k!
<br /> Training Offered: Yes - Seller will provide four weeks or hands on training followed by 30 days of phone support. <br /> Reason For Sale: Seller is part absentee owner who has another career that is requiring more of his time. <br /> Financing: Yes - Seller is willing to listen to all reasonable offers - even those that involve some Seller financing.