New York City is the foodie capital of the United States and is home to some of the greatest restaurants in the world. When you walk into a restaurant you’re seeing the end product of that restaurateur’s vision that originally started with them finding the perfect location for their new restaurant. Locating the best restaurant location for your concept is the first major step in opening a successful restaurant, and it’s recommended that you enlist an experienced real estate broker that specializes in restaurant leasing and sales. Corbett & Dullea has 20 years of experience in the New York City restaurant market and we can help you find the perfect location for your new restaurant. Here are some of the primary factors to consider
FOOT TRAFFIC
Most New York City restaurants want to be in a busy location with good foot traffic and visibility.
2ND GENERATION RESTAURANT / TURN KEY
When a restauranteur is deciding where to open their next location a big consideration is how much will it cost to build their new location. Renting a 2nd Generation restaurant or what we often call a “Turn Key Restaurant” can save a restaurateur hundreds of thousands of dollars in build out costs because most, if not all of the restaurant’s infrastructure already exists from the previous restaurant. There will also often be a current or previous liquor license attached to that location making it an easier road for the new establishment to get a liquor license for their new restaurant.
KEY MONEY
And speaking of 2nd Generation Restaurants some of them have what we call “Key Money”, and Key Money is when you pay to buy the existing built restaurant. Now you’re still typically leasing the actual space but you’re essentially buying the previous business and all of the fixtures in that restaurant. Some fully built restaurants have Key Money and some don’t
