RSS
Brindisi's Restaurant closes early for winter season, owner looking to sell
SARATOGA SPRINGS — Last week, passersby noticed a dark and quiet window at Brindisi’s Restaurant at 390 Broadway.
On Monday morning, owner Andrew Brindisi quelled speculation that the Italian-American bistro was closed permanently.
It is, however, going on the market.
“Usually we close down for January and February, but November is actually the slowest time of the year and it costs more to stay open than it does to close,” Brindisi said. “I am putting it up on the market and if it doesn’t sell — I’ll be back in the spring.”
When Brindisi’s closed last week only a small number of employees found themselves — perhaps earlier than expected — out of a job.
“We probably had only about three or four part-timers, it was a real skeleton crew,” Brindisi said.
Although he is in the midst of interviewing realtors to put the restaurant on the market, Brindisi said he will also entertain anyone looking to buy the space without a real estate agent.
“It’s something I’ve been considering for a while,” he said. “Taxes keep going up every year and you can’t keep blaming the landlords — they have to pay school taxes and property taxes — it’s just not conducive when all the prices are going up.”
While Brindisi still has several years left on his lease and can’t technically sublet to another restaurant owner, he plans to sell the space including all its kitchen fixtures and other equipment for $250,000.
The buyer would then negotiate a year-to-year contract with the building’s landlord.
Brindisi himself put about $1 million into the 390 Broadway space since opening in 2000 and after 12 years in the business the restaurateur is ready to move on.
However, if the restaurant doesn’t sell this winter — he will re-open in March or April.
Brindisi’s will remain open over the next four or five months for private parties, Christmas parties and on and off-site catering gigs.
When the restaurant does change hands, Brindisi hopes to enter a new chapter of his life outside the restaurant businesses.
“I was hoping to get a job in public relations or in government because I really like politics and if I get any proceeds from this place I’d use it to buy a Harley Davidson.”
To contact Brindisi about private parties, catering or with buying inquiries call 587-6262 or e-mail brindisia@aol.com.
On Monday morning, owner Andrew Brindisi quelled speculation that the Italian-American bistro was closed permanently.
It is, however, going on the market.
“Usually we close down for January and February, but November is actually the slowest time of the year and it costs more to stay open than it does to close,” Brindisi said. “I am putting it up on the market and if it doesn’t sell — I’ll be back in the spring.”
When Brindisi’s closed last week only a small number of employees found themselves — perhaps earlier than expected — out of a job.
“We probably had only about three or four part-timers, it was a real skeleton crew,” Brindisi said.
Although he is in the midst of interviewing realtors to put the restaurant on the market, Brindisi said he will also entertain anyone looking to buy the space without a real estate agent.
“It’s something I’ve been considering for a while,” he said. “Taxes keep going up every year and you can’t keep blaming the landlords — they have to pay school taxes and property taxes — it’s just not conducive when all the prices are going up.”
While Brindisi still has several years left on his lease and can’t technically sublet to another restaurant owner, he plans to sell the space including all its kitchen fixtures and other equipment for $250,000.
The buyer would then negotiate a year-to-year contract with the building’s landlord.
Brindisi himself put about $1 million into the 390 Broadway space since opening in 2000 and after 12 years in the business the restaurateur is ready to move on.
However, if the restaurant doesn’t sell this winter — he will re-open in March or April.
Brindisi’s will remain open over the next four or five months for private parties, Christmas parties and on and off-site catering gigs.
When the restaurant does change hands, Brindisi hopes to enter a new chapter of his life outside the restaurant businesses.
“I was hoping to get a job in public relations or in government because I really like politics and if I get any proceeds from this place I’d use it to buy a Harley Davidson.”
To contact Brindisi about private parties, catering or with buying inquiries call 587-6262 or e-mail brindisia@aol.com.
posted by Suzanna K. Lourie at
12:28 PM
10 Comments:
Who in their right mind would buy used restaurant equipment for $250,000 in a space with only a year to year lease subject to the whim's of the landlord? The reviews on YELP of Brindisi's restaurant are mostly negative with many comments on the restaurant owner's rudeness. This guy wants to get into public relations?
I have to agree with the first comment. No one would plunk down a quarter of a million for a business with a year to year lease. The "Goodwill" of the name was pretty much destroyed by a poorly conceived menu and one of the least hospitable owners on Broadway. Blaming taxes seems to be the mantra of conservatives these days. How about even the most basic sense of introspection. Perhaps it's no longer profitable (if it ever was) because it's poorly managed, and suffering from a down economy and less discretionary spending. No one ever admits they are closing if they are trying to sell. Public relations seems like an odd choice for a such an abrassive fellow and one that came up with this exit strategy spin. Given the lack of sincerity and a talent for not accepting responsibility, I would say he might fit right in as a politician. Good luck to the next owner, it's a nice space.
Not saying that I would buy it. But, I know if the place was striped it would cost a lot more than that. Restaurant computers alone cost a fortune. I looked at a place up at exit 15 near 5 guys and they did not even have a bathroom or lights hooked up. Just dry wall. I know Brindisi's is a great location. I think we need no more fine dining or Italian,maybe a Greek restaurant that's what Saratoga really needs.
I'm glad Brindisi's is gone
Ditto....Andy drove that resturant into the ground!!! Once a great upscale Italian resturant....now it didn't know what it wanted to be.....???Staduim with all of the tv's????? Circus Cafe, with the salad bar and "kid friendly menu".....Gaffney's with the "live music".....he blew it....too bad!!! Poor management and not very people friendly atmosphere either!!! Glad the people and visitors of Saratoga don't have to deal with his rudeness anymore!!! Good riddens!!!
Andrew Brindisi is the most disliked person in town. Glad to see he cannt make it. The location he has is terrific, the place next to him is always busy...Cicrcus Cafe yet his place once a nice resturaunt was ruined by him. Giving him a $250,000 is a bit of a reach. What is he selling? Sounds like his lease is about up.
great location but owner doesnt have a clue about running a business
What does he have to sell? great location but no business and it sounds like his lease is up. How does that equate to a $250,000 price tag.
Looks like Shirleys just sold for 100,000 more than what Brindisi's is asking. Brindisi's is listed for 190,000. The valule is its a turn key operation. In NY it takes about a year to get a liquor license. So, thats the main value, someone can be up and running by next track. You can piggy back off of someone's license why you are trying to get yours.
As far as Andy I see him as someone who worked hard for all of downtown and had heart and soul. Fall Fest, DBA, Chamber, Convention. Many of voluteer hours.
Maybe he should have done nothing to help others and should have just helped himself. At least he was not phony like half the people in town that will talk behind your back and be nice to you in front of your face.
"You can find the worst in the best people and the best in the worst people, but no one should be talking bad about anyone" Author unknown.
I think his downfall was being to nice to some of his employees that stole from him. I think that would drive a saint crazy and make them bitter.
Also, I know that they lost money with the Hilton because they served food and put up concessions stands in front of there restaurant. He should have signed a no compete with the Hotel.
Good Post! Very informative, glad that you are going to continue writing things like this! Restaurant Equipment
Post a Comment
Subscribe to Post Comments [Atom]
<< Home