Friday, May 25, 2012

It's Confirmed. Vinzee's On Court Street Is No More. Space Now For Rent

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So now we know for sure. Vinzee's Magic Fountain at 412 Court Street isn't coming back. Obviously it wasn't so magic.  After just a year in business and an agonizingly slow decline from the moment it opened its doors, the hamburger joint is now for rent by Prudential Douglass Elliman for the rather insane prize of $15,000 a month.  The space is advertised as followed on the realty's web site:
Prime Carroll Gardens! Corner Location! 2800 sq.ft. with an additional 600 of outdoor space. This location provides an extraordinary amount of foot traffic as its sandwiched between the Smith street subway and steps from CVS and Capital One Bank . It also has the bus stop right outside the front door. Turn key operation that’s practically brand new. Seats 75 plus a full prep kitchen that’s designed for catering. Central air, Walk-in Refrigerator,Walk-in Freezer, Garland 4 burner range, CecilWare double fryer, Broiler, Griddle, Mofat convection oven, Henny Penny pressure fryer, Vita mixer, Chef Mate grinder, Taylor soft serve, and the list goes on and on... Ideal for the person who wants to skip the hassle of construction so they can earn from day one.
Perhaps someone with a bit more savvy can actually operate a viable business here. It's a great location.
What do you think of the rent?

Thanks, Nicholas for making me aware of the ad.
 

11 comments:

Anonymous said...

How is $64 psf an insane price? That's pretty much in line with what you'll pay on Court Street, let alone a corner location with a courtyard.

Anonymous said...

I hate to see another local business go bust but this place never had a decent business plan. They were overpriced and the menu didn't really offer anything that I could not quickly do at home. I can't really imagine what they were thinking when they took over such a large space for a hamburger stand in the first place.

Anonymous said...

Unfortunately, Smith Street and Court Street are becoming 7th Avenue in Park Slope. Insane rents drive out normal businesses. Then, the only businesses that can afford the rent: real estate agents, opticians, and cell phone stores.

What kind of product and at what price point does a vendor need to cover a $15,000 monthly rental, plus utilities, plus inventory, plus labor, plus overhead?

...and if the rent comes anywhere close, it incentivizes other landlords to evict current tenants (those teriffic mom and pop shops that everyone moves to Carroll Gardens for!) so that yet another overpriced shop can move in. Think of the frame store and the shoe repair shop on Smith Street, just to name two.

Thank goodness, some of the old-time shops (Court Pastry,D'Amico Coffee..even if some idiot is causing problems).

I've lived in the neighborhood my whole life and while applaud the fact that the area has improved dramatically in the past 30 years....this kind of development is not desirable.

Unfortunate. Very unfortunate.

Anonymous said...

FYI- the owner of Vinzees also owns 93 2nd place. My friend looked at the garden floor apt. It's $3300 a month. It's been empty since November.

Anonymous said...

The owners have the entire corner. Ol' Italian couple. Years ago they had a laundry/drug biz. Wow. 15K a month..
Someone should open a shoppe that sells 'beeeeer'.

Anonymous said...

I'm surprised there wasn't an auction for the kitchen equip. Renting equipped means a restaurant of some sort has to take it over. ok Calexico, grab it. Or hello Il Posto empire.
15,000 probably covers all that equip. If that corner has been owned for years what mortgage demands rent like that? I don't get it. Release the hounds.

Anonymous said...

That's a lot of hot dogs to sell! 15k per month. Way overpriced. Plus, they were never open. What was up with that? The first an only time I went in there i ordered: hot dog, onion rings and coke= $14.95. Now that was insane.

Anonymous said...

Unless they are including the basement, there is no way that space is 2800 sq ft. $15,000/month is a joke.

Anonymous said...

True- there is no way that space is 2800 sq ft.

Anonymous said...

The owners of this space don't seem to understand a business fundamental: Pigs get fat, hogs get slaughtered.

Anonymous said...

Whatever. I never understood what this place was and or trying to be.