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Business for Sale Summary

Must-Sell this Mediterranean Bistro in Manhattan - 33865

Business Type: absentee business,must sell/drastic price reduction!,other eating & drinking places,restaurant/ cafes/ diners
Owner Financing
Must-Sell this Mediterranean Bistro in Manhattan
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This business has received 65 indications of interest - Act Quickly!

Financial Information (non-confidential)

General Information
Asking Price $99,000 Down Payment $99,000
Gross Revenues $500,000 Lease Remaining Register Free to View
Owner’s Cash Flow $50,000 Number of FT Employees Register Free to View


$99,000 Down and Please make your best all-down offers.

Business Description

The seller just drastically reduced the asking price from $175K to $99K for this beloved Mediterranean Bistro, located on a trending restaurant row in Manhattan and re-opened in April 2021 to glowing reviews. You now have a golden opportunity to acquire this gem, with the knowledge that you will be inheriting a 13 year lease, which the seller deftly negotiated down from $4,000/mo. to just $2,200/mo., during the worst phase of the pandemic.That's a savings of $280K over the life of the lease. Having run absentee, were you to be more hands-on, you should be able to make a lot more than the $50K the seller has taken out. Water is included in the rent at no additional cost. All of the furniture, fixtures, and equipment are still intact, as seen in the photos. Of course, you can put your own concept into this space, taking advantage of the way below market rent and the furniture, fixtures, and equipment, which will remain. There is a lot of delivery app business to be had here, too, especially given that the bistro is located a couple of blocks either way from two major hospital systems. The seller recommends that the new owner be more hands-on, either to oversee the front or back end, thus pocketing more money for yourself. Lastly, it would be a good idea to continue to serve beer & wine here. A license for such is much easier to get than a full liquor license. Last but not least, there is an attractively built outdoor dining structure in the street in front of the restaurant, which more than adequately supplements the seating available indoors. Please email the listing broker, Jay Goldman, at jaygoldman@vestedbb.com to make an appointment to meet with the seller to get a full tour of the facilities and ask some questions.

Attention Business Owners: We are always in search of quality businesses to list, so if you are thinking of selling your business or would like to acquire another business, please email us at listingmanager@vestedbb.com or call us at 1-877-735-5224 to discover the difference that is Vested Business Brokers.

Disclaimer: The financial information in this business listing has been provided by the Seller. Vested Business Brokers, Ltd. (VBB) has not independently verified this information. Therefore, we make no claims as to the accuracy of this financial summary. Vested recommends that you consult with an accountant, attorney and/or other professionals to represent and assist you in any business transaction. One of our associate brokers will arrange a meeting between you, your representatives, and the Seller, but they are not authorized to make any representations or warranties on behalf of the seller or VBB. You agree to hold Vested Business Brokers and its associated brokers harmless for any misrepresentations made by seller.