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So 4th Ave. is now "in the Heart of Prime Park Slope"? Yikes.
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Besides the owners not getting along the bar had serious flooding problems. The basement would look like a pool every time it rained. Water would come down the slope and settle on 4th. 5th avenue recently had some main plumbing work done by the city. before the work on 5th some buildings in that area would get a foot or so of water in the bssements. However, 4th avenue would fair far worst. I heard it was waist high in those buildings. whoever rents the space he better have deep pockets
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I'm just wondering how the "main plumbing work" done by the city on 5th affects the flooding on 4th? It is unclear from your writing if one thing has anything to do with the other. Then you go on to say "before the work on 5th some buildings in that area would get a foot or so of water in the bssements. ".... is that to say that things are different after? Please clarify.
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Does the new leaser get the existing liquor license and whatever other licenses are needed to keep it open as a bar?
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Drunken- sorry about the confusion. The work on 5th has nothing to do with 4th avenue. 5th avenue used to have water problems but not as severe as 4th. when the work was done on 5th there were no more water issues. however, 4th avenue continues to struggle with heavy rains. In other words...4th ave is just as bad as it was. 5th avenue water issues have been resolved. The work done on 5th does not affect 4th avenue.
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Boogie - Since they are selling the business i would think the license would come with it. even if the new owner had to get his own license it should be easy because the space had a license at one time. regardless i don't think its a good deal. i would pay them 50k to walk away from the business and try to talk with the landlord about a reduced rent and a longer new lease at around $7500. however, the water issues will have to be corrected somehow.
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they are on drugs. $350,000??? Not going to happen.
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Good riddance I say.
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Yea, 350k is way too much. On top of that you have to pay the landlord over 9k per month and slip him 80k when the lease is up. The new owner would definitly have to fix the plumbing issue or avoid using the basement. That place was a nightmare when it was open. lots of fights...
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You can sell the business with the license, but this brings on its own set of issues. Are there current violations/fines that need to be paid in order for the license to be in good standing? Are there vendors (wines and spirits) that are owed money? Unlike other businesses, bars can only purchase liquor from a limited number of sources. Your liquor license is what is used to track you. If you owe money the cut you off, no questions, no excuses. The only option if this happens is to purchase liquor illegally which means your license is toast if you get caught. Plus the process to get a new license is long and torturous. Given all of that, if the license is clean and debts are all paid, its probably worth $75-80k on its own.
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homeowner » Unlike other businesses, bars can only purchase liquor from a limited number of sources. Your liquor license is what is used to track you. If you owe money the cut you off, no questions, no excuses. The only option if this happens is to purchase liquor illegally which means your license is toast if you get caught. Plus the process to get a new license is long and torturous. Given all of that, if the license is clean and debts are all paid, its probably worth $75-80k on its own.
didn't know that. why does the state/city not allow bars to buy from regular liquor stores and distributors? Does it help them track how much a given place is selling for tax purposes or something? I could understand if they got caught selling liquor that wasn't NY taxed, but being that the stuff at store is taxed it doesn't make sense.For better or worse, the change on Nostrand is going to make the change on Franklin look minor. -
This post really needs to be renamed "Half truths and pieces of misinformation"... Fucking ridiculous.
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whynot_31 » didn't know that. why does the state/city not allow bars to buy from regular liquor stores and distributors? Does it help them track how much a given place is selling for tax purposes or something? I could understand if they got caught selling liquor that wasn't NY taxed, but being that the stuff at store is taxed it doesn't make sense.
I think its two reasons. First, they license wholesalers and distributors as well so some of it is trying to protect those guys from unfair competition. The license cost for a wholesaler is steep, and it would suck to pay it then be undercut by a guy who had a retail license but was selling to other retailers under the table. Second, there is now a requirement for the wholesalers to report to the tax man purchases so that there is a way to match what you claim to have sold against inventory purchased. SLA doesn't play either. This is what happens if you stiff a wholesalerWhat is "C.O.D." (Cash On Delivery)? "C.O.D." mandates that retailers who have defaulted on credit payments to wholesalers must purchase all alcoholic beverages from wholesalers on a cash (non-credit) basis until the original debt(s) are repaid. Section 101-aa of the ABC Law requires manufacturers and wholesalers to notify licensees who have failed to make payments for alcoholic beverages sold or delivered to them. The wholesaler or manufacturer is required to send default notices to retailers who have failed to make payment by the Final Payment Date for purchases made during the preceding Credit Period. The default notices must be sent by registered or certified mail to the retail licensee on the Delinquent Notice Day, which is the 4th business day after the Final Payment Date. On the same day the wholesaler or manufacturer is required to notify the Authority of delinquent retailers by sending duplicate copies of the notices of default mailed to the retailer. "C.O.D." DELINQUENT LISTS A separate Delinquent List is published weekly covering each of the four groups of retail licenses and copies sent to each manufacturer and wholesaler. No manufacturer or wholesaler, after receipt of the delinquent list, shall "knowingly, willfully or intentionally" sell any liquor or wine to any retail licensee whose name appears on such list, except for cash, until such time as the name of the retailer is removed from the delinquent list. RELEASES FROM DELINQUENT LISTS The Authority may grant a release from the Delinquent List to any retail licensee who has received a Notice of Default or is named on any Delinquent List when Notices of Payment have been filed with the Authority by the manufacturers and wholesalers involved, or on good cause shown to it and after the investigation of the facts. Such release shall permit the sale and delivery of alcoholic beverages on terms other than for cash prior to the publication of the next appropriate Delinquent List.
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Thanks homeowner. I had no idea about all this stuff. If the bar is sold without a license (the partner who held the license refused to part with it) will it be easier for the new owner to obtain one since the space was licensed at some point? (assuming there is no money owed or violations to resolve)
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I'm not sure about easier. You won't have any problems with whether or not a licensed establishment can be located there, but you still need to get the signoff of the the community board as part of the licensing process and if the previous establishment had problems with the neighbors this may be taken into play. I know that SLA will check with the PD to see if there are any incident reports, etc.
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homeowner » I'm not sure about easier. You won't have any problems with whether or not a licensed establishment can be located there, but you still need to get the signoff of the the community board as part of the licensing process and if the previous establishment had problems with the neighbors this may be taken into play. I know that SLA will check with the PD to see if there are any incident reports, etc.
...which sounds like lots of time between when you open and when people get to drink. which gives the lic value.For better or worse, the change on Nostrand is going to make the change on Franklin look minor.
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