New York, NY · Tasting menu

Tasting Menu Concept, Manhattan

A 28-seat tasting menu concept in the West Village. Loss-making as a property but selling on lease-and-asset value to a strategic buyer.

Quiet tasting menu dining room with low lighting.

Overview

A 28-seat tasting menu concept in Manhattan’s West Village. Two seatings, six-night-a-week service. The dining room is operating at a small loss; the chef-owner is candid that the concept’s run has had its time.

Why this is interesting (for a strategic buyer)

  • Below-market lease with eight years remaining
  • Build-out that would cost $1.4M+ to replicate is in place
  • A buyer with a new concept and a working brand can step in and immediately operate
  • Liquor license transfers

Why this isn’t a financial buyer’s deal

The TTM is loss-making. Any buyer modeling this off operating multiples is solving the wrong equation. This deal closes on real estate, build-out, and lease value — not on existing earnings.

Numbers

  • 2025 revenue: $2.4M
  • 2025 EBITDA: -$120k
  • Build-out replacement cost (estimated): $1.4M
  • Lease term remaining: 8 years (below market by ~22%)