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Re: Liquor License Cost & Availability?
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guessing your average BELA or heights commercial establishment does not pay such low taxes relative to Market Value of building...

Posted on: 2/8 15:09
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Re: Liquor License Cost & Availability?
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Quote:

HamiltonParker wrote:
Guillo's is officially back on the market.
If you have a spare $2.8M lying around, please act now, haha!

http://www.delfornorealestate.com/category/investments/


The taxes are only $10,450.26!! It's a GREAT deal!!

Posted on: 2/8 12:48
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Re: Liquor License Cost & Availability?
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Guillo's is officially back on the market.
If you have a spare $2.8M lying around, please act now, haha!

http://www.delfornorealestate.com/category/investments/

Posted on: 2/8 0:01
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Re: Liquor License Cost & Availability?
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If someone purchases a license is it tied to the current location or can it be transferred to another location/establishment?

Posted on: 2016/4/10 21:03
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Re: Liquor License Cost & Availability?
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Does anyone know what happened to the Music Box/Maria's? Did they finally lose their license due to mayhem and minors or what? After many years of avoiding the place I'm finally in there on a regular basis, for the tasty & inexpensive spanish food by Maria's sister.

Posted on: 2016/4/7 23:33
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Re: Liquor License Cost & Availability?
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HamiltonParker wrote:
So again...if liquor lisences are scarce, expensive, etc. why hasn't good 'ol Guillo (Coles & 6th) sold his and retired? So perplexed about this...as someone else stated - he was willing to part with both the lisence AND the building for LESS than the cost of the lisence alone. Makes little sense to me...


Call bullshit and you win a DTJC cookie, lots of blabber....


Posted on: 2016/4/7 20:35
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Re: Liquor License Cost & Availability?
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The linked article about the $1.2 million license is specific to Montclair. Liquor license prices vary wildly from town to town.

Posted on: 2016/4/7 20:33
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Re: Liquor License Cost & Availability?
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So again...if liquor lisences are scarce, expensive, etc. why hasn't good 'ol Guillo (Coles & 6th) sold his and retired? So perplexed about this...as someone else stated - he was willing to part with both the lisence AND the building for LESS than the cost of the lisence alone. Makes little sense to me...

Posted on: 2016/4/7 20:18
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Re: Liquor License Cost & Availability?
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Posted on: 2016/4/7 19:55
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Re: Liquor License Cost & Availability?
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Posted on: 2016/4/7 11:36
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Re: Liquor License Cost & Availability?
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Posted on: 2016/3/26 14:45
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Re: Liquor License Cost & Availability?
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Quote:

Monroe wrote:
Update on NuBar-I'm told it's under contract, and that the new owner may not be using the liquor license . . . which would suck.

That doesn't surprise me. I was speaking with another bar owner that also owns some properties. He looked into the building but said that the major issue is that the building is rent controlled at about 600/700 per month. Because of this, the business would need to be the driving revenue source for recovering the investment cost. Basically, the purchase would be a sell-off of the liquor license due to the price that the building is.

Posted on: 2016/3/26 14:11
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Re: Liquor License Cost & Availability?
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Update on NuBar-I'm told it's under contract, and that the new owner may not be using the liquor license . . . which would suck.

Posted on: 2016/3/26 13:31
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Re: Liquor License Cost & Availability?
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Killtown wrote:
I heard the owners of Prado have a liquor license application pending and that it'll likely be issued by late spring or early summer.

That was all settled months ago. It's not happening.

They did not get the requested D2 variance, which would have allowed them to serve alcohol.

Instead, they got a conditional variance, which basically let them add more seats than before. They are not eligible for a liquor license, and cannot offer backyard seating.

Posted on: 2016/3/24 15:46
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Re: Liquor License Cost & Availability?
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Monroe wrote:
We're keeping an eye on the NuBar license and building on Communipaw, which has been for sale and now has the 'for sale' sign removed.

The listing was 1.3m. I didn't think that was entirely unreasonable given all that is involved. If the "For Sale" sign was removed, I can only hope for good things...

Posted on: 2016/3/24 15:44
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Re: Liquor License Cost & Availability?
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I hope so too, there's not nearly enough retail outside of the main strips in Downtown. We need to make as much effort to preserve the retail outside of Grove/Newark and strive to add even more.


To that end, go walk over to Seven Sheep Coffee and grab a drink and a snack. 7th BETWEEN Monmouth and Brunswick.
Great coffee, great food, really nice ownership.

Posted on: 2016/3/24 15:31
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Re: Liquor License Cost & Availability?
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JCMan8 wrote:
Pretty sure this was just trolling and you shouldn't take comments made by infrequent posters too seriously.

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AlexC wrote:
I'm sure those people freaking out over the proposed outdoor seating are going to flip out when they find out

Quote:

Killtown wrote:
Quote:

AlexC wrote:
You mean Prato Bakery?

Quote:

Killtown wrote:
I heard the owners of Prado have a liquor license application pending and that it'll likely be issued by late spring or early summer.


Sorry, yeah - Prato Bakery


I'm not infrequent, just new. I heard what I heard and that's all I know.

Posted on: 2016/3/24 13:47
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Re: Liquor License Cost & Availability?
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Thanks, Thirsty Quaker. I'm baffled by the lack of financing available ~ I'd liken it to NYC taxi medallions, always in limited supply, exorbitantly priced, etc. but financing readily available. I always imagined that it worked the same way with liquor licenses.

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thirstyquaker wrote:
Quote:

DtJcQdMf wrote:
How does financing work with liquor licenses?

Despite a liquor license being an asset of sorts, banks won't finance it, because they have no way of foreclosing on it or seizing it (since all transfers have to go to review, and owners of it need a background check and all that). So you have to put up collateral if you want a loan, or borrow money from family/friends. Of course, you could work out a financing agreement directly with the seller, but chances are they won't assume that risk.

Posted on: 2016/3/23 20:43
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Re: Liquor License Cost & Availability?
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Pretty sure this was just trolling and you shouldn't take comments made by infrequent posters too seriously.

Quote:

AlexC wrote:
I'm sure those people freaking out over the proposed outdoor seating are going to flip out when they find out

Quote:

Killtown wrote:
Quote:

AlexC wrote:
You mean Prato Bakery?

Quote:

Killtown wrote:
I heard the owners of Prado have a liquor license application pending and that it'll likely be issued by late spring or early summer.


Sorry, yeah - Prato Bakery

Posted on: 2016/3/23 17:36
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Re: Liquor License Cost & Availability?
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I'm sure those people freaking out over the proposed outdoor seating are going to flip out when they find out

Quote:

Killtown wrote:
Quote:

AlexC wrote:
You mean Prato Bakery?

Quote:

Killtown wrote:
I heard the owners of Prado have a liquor license application pending and that it'll likely be issued by late spring or early summer.


Sorry, yeah - Prato Bakery

Posted on: 2016/3/23 16:38
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Re: Liquor License Cost & Availability?
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We're keeping an eye on the NuBar license and building on Communipaw, which has been for sale and now has the 'for sale' sign removed.

Posted on: 2016/3/23 16:17
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Re: Liquor License Cost & Availability?
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Quote:

AlexC wrote:
You mean Prato Bakery?

Quote:

Killtown wrote:
I heard the owners of Prado have a liquor license application pending and that it'll likely be issued by late spring or early summer.


Sorry, yeah - Prato Bakery

Posted on: 2016/3/23 16:03
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Re: Liquor License Cost & Availability?
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Quote:

EasyGibson wrote:
Quote:

HamiltonParker wrote:
Good point...and it probably makes more sense to convert the retail level into a living space as has been done with so many other buildings in the area...because there's not enough foot traffic, especially during the day, to support a retail store.

Hoping that someone will buy the bundle and flip the lisence then the building. Not sure ho wrong he's owned the place for but it can't be easy working 365 days/year, no break, vacation, etc.

Weird, though, because the For Sale signs were all removed a year or so ago.


I noticed that too. Hopefully it means he wants to stick around for a while and maybe hand the business down. Local spots like that are why I moved here and why I want to continue to live here. The more of these places that pack up, the less appealing the neighborhood is and the more it trends toward a bedroom community with a bunch of TGI Fridays.


I hope so too, there's not nearly enough retail outside of the main strips in Downtown. We need to make as much effort to preserve the retail outside of Grove/Newark and strive to add even more.

Posted on: 2016/3/22 11:45
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Re: Liquor License Cost & Availability?
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Quote:

DtJcQdMf wrote:
How does financing work with liquor licenses?

Despite a liquor license being an asset of sorts, banks won't finance it, because they have no way of foreclosing on it or seizing it (since all transfers have to go to review, and owners of it need a background check and all that). So you have to put up collateral if you want a loan, or borrow money from family/friends. Of course, you could work out a financing agreement directly with the seller, but chances are they won't assume that risk.

Posted on: 2016/3/22 10:26
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Re: Liquor License Cost & Availability?
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If they start serving Lemoncello I may quit my job just to hang out there all day.

Posted on: 2016/3/21 15:43
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Re: Liquor License Cost & Availability?
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You mean Prato Bakery?

Quote:

Killtown wrote:
I heard the owners of Prado have a liquor license application pending and that it'll likely be issued by late spring or early summer.

Posted on: 2016/3/21 13:59
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Re: Liquor License Cost & Availability?
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I heard the owners of Prado have a liquor license application pending and that it'll likely be issued by late spring or early summer.

Posted on: 2016/3/21 13:35
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Re: Liquor License Cost & Availability?
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Off Topic, but I loved that the the older gentlemen who bike around the neighborhood with their bicycles decked out in the Puerto Rican flag were all parked out in front of Guillo's on Saturday afternoon. I like that the neighborhood still has that type of biker bar. The sight of it made me smile.

Posted on: 2016/3/21 13:27
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Re: Liquor License Cost & Availability?
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Quote:

HamiltonParker wrote:
Good point...and it probably makes more sense to convert the retail level into a living space as has been done with so many other buildings in the area...because there's not enough foot traffic, especially during the day, to support a retail store.

Hoping that someone will buy the bundle and flip the lisence then the building. Not sure ho wrong he's owned the place for but it can't be easy working 365 days/year, no break, vacation, etc.

Weird, though, because the For Sale signs were all removed a year or so ago.


I noticed that too. Hopefully it means he wants to stick around for a while and maybe hand the business down. Local spots like that are why I moved here and why I want to continue to live here. The more of these places that pack up, the less appealing the neighborhood is and the more it trends toward a bedroom community with a bunch of TGI Fridays.

Posted on: 2016/3/21 13:07
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Re: Liquor License Cost & Availability?
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I offered one for 100k obo and had no takers a few years ago. went at auction for 130k

Posted on: 2016/3/21 12:50
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