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March 5, 2009

Streetlevel: Caserta Vecchia Up For Sale

caserta-vecchia-0309.jpg
Caserta Vecchia may not be "family owned" for very much longer. The Italian comfort food spot, which opened at 221 Smith Street in 2002, was recently put up for sale. The asking price of $290,000 includes everything—the liquor license, chairs and tables, even the stoves. Does anyone know if this is related to a slump in business or the owners just moving on?
Caserta Vecchia Listing [NY Times] GMAP




Posted by Brownstoner at 2:00 PM | Comments (13)
Categories: Cobble Hill, Streetlevel

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Comments

business seems pretty steady. And more than year ago I would stumble on one local realtors site that this restaurant was for sale. How actively seeking a buyer and for what reason I don't know.

Posted by: Petebklyn at March 5, 2009 2:10 PM

What's the rent? $300k is a pretty big nut (though, it does include quite a bit)

If I bought it, could I convert it into a fusion Thai place? Doesn't Smith need one of those? :-)

Posted by: tybur6 at March 5, 2009 2:41 PM

How much is a liquor license worth?

Posted by: troll at March 5, 2009 2:48 PM

i really hope it doesn't change an ounce after the sale (unlikely) this is my fave place on the whole street. :-/
totally unpretentious, zero posers, and decent food to boot.

Posted by: bowl of dicks at March 5, 2009 2:51 PM

This is one of my favorite places, too. Very good food and a great staff. It'll be a shame to see it go away, quietly into the night.

Posted by: Porterhouse at March 5, 2009 3:03 PM

Umm... if someone buys it, it might not go away. Isn't that the point?

What's the rent? :-)

Posted by: tybur6 at March 5, 2009 3:10 PM

Good food, douchebag free crowd, hope nothing changes.

Posted by: Xander Crews at March 5, 2009 3:29 PM

My instinct is that the main cost is the market value of the lease. However, it's value is dwindling by the day.

Posted by: slick at March 5, 2009 3:40 PM

And what would the market value of the aforementioned lease be, perchance?

Posted by: tybur6 at March 5, 2009 3:42 PM

I too hope this doesn't mean a change to the restaurant itself! It's such a nice place. Consistently good food and really charming staff.

Posted by: Brownstonerlogin at March 5, 2009 5:21 PM

The market value of the lease would be the difference between a lease signed in 2002 and a lease signed today for the same space. I dont know what that number is, but I wouldnt be surprised if it was half of present market value w/ 7 years or so remaining.

Posted by: slick at March 5, 2009 5:25 PM


Whenever a restaurant is for sale, you have to question why it's for sale.

The reason 99% of the time is because the current owners aren't turning a sufficient profit.

Especially in this down economy, the last thing I'd do would be to purchase a restaurant.

Posted by: IronBalls at March 5, 2009 7:56 PM

I think the question of profits is tied into the amount of the lease... dontcha think?

Is a ballpark figure not even out there?!

Seriously, who cares if the company price tag was $300,000 or $300... If the rent is $10k/mo or $80k/mo -- that makes a HUGE difference.

Posted by: tybur6 at March 6, 2009 9:34 AM

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