Restaurant Spaces

[starfish]

Doug Jamal has been working on that one for years. My take is that, whatever it finally turns out to be, nothing much is going to influence its course at this point. But who knows???

yes, he has been working on that space for a while. imho, there are three reasons it is still on the market:

1 - the deal is contingent upon taking an akward adjacent space.

2 - the build-out would be cost prohibitive to all but the deepest of pockets (i smell a chain coming) and no tenant improvement allowance is offered. some down the line incentives sure, but this still makes for a very large initial cash outlay

3 - the cost/square foot is, in my estimation, 15-25% higher than it should be for comparable properties

damn shame, beecause the space could be stunning.

[JPW]

yes, he has been working on that space for a while. imho, there are three reasons it is still on the market:

1 - the deal is contingent upon taking an akward adjacent space.

2 - the build-out would be cost prohibitive to all but the deepest of pockets (i smell a chain coming) and no tenant improvement allowance is offered. some down the line incentives sure, but this still makes for a very large initial cash outlay

3 - the cost/square foot is, in my estimation, 15-25% higher than it should be for comparable properties

damn shame, beecause the space could be stunning.

Need to add -- 4)He's been a little distracted recently --bribery charges

[Hannah]

There's a sign for West Elm up on the opposite side of that building from H&M. I don't know how long the coming soon sign's been there, but they're likely to take up quite a bit of space, being a furniture/decorating store. They're owned by Williams Sonoma, so overhead probably isn't a big deal - the other area location I'm aware of is in the Tyson's expansion, which I suspect wasn't cheap either.

[Pappy]

Need to add -- 4)He's been a little distracted recently --bribery charges

And, of course, it would be appropriate to remind everyone that there are two sides to every story.

[Lydia R]

Need to add -- 4)He's been a little distracted recently

... by italian food.

Jemal Buys A.V. Ristorante Site

________________________________________

D.C. developer Douglas Jemal said he bought the land that A.V. Ristorante Italiano occupies and is working to buy the rest of the block at New York Avenue and Seventh Street NW. He said he would like to put offices and retail on the site, much as he did on the block of Seventh Street NW across from Verizon Center.

Jemal wouldn't say how much he paid for the restaurant, a neighborhood institution that was started in 1949 by Augusto Vasaio and remained in his family. "They don't have to worry about the price of pizza anymore," he said. "They can retire."

But not right away. The owners said the restaurant won't close until October 2007.

[johnb]

Need to add -- 4)He's been a little distracted recently --bribery charges

Yes that's true, and I don't have any specific info, but the line between a bribe and a shakedown is a thin one indeed, and anybody who's trying to do creative real estate things in DC (and other places too of course) is certainly going to find there are those who must be dealt with who feel they aren't being paid enough by their employers. It a situation all too ripe for lubrication money.

... by italian food.

Jemal Buys A.V. Ristorante Site

________________________________________

D.C. developer Douglas Jemal said he bought the land that A.V. Ristorante Italiano occupies and is working to buy the rest of the block at New York Avenue and Seventh Street NW. He said he would like to put offices and retail on the site, much as he did on the block of Seventh Street NW across from Verizon Center.

Jemal wouldn't say how much he paid for the restaurant, a neighborhood institution that was started in 1949 by Augusto Vasaio and remained in his family. "They don't have to worry about the price of pizza anymore," he said. "They can retire."

But not right away. The owners said the restaurant won't close until October 2007.

A group of us were sitting out front of Hodges not too long ago, eating our (great) roast beef sandwiches and looking across at the AV site, contemplating the real estate aspect and wondering when this would happen. I see it has. Doesn't surprise me that Jamal is the buyer.

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[Jacques Gastreaux]

Yes that's true, and I don't have any specific info, but the line between a bribe and a shakedown is a thin one indeed, and anybody who's trying to do creative real estate things in DC (and other places too of course) is certainly going to find there are those who must be dealt with who feel they aren't being paid enough by their employers. It a situation all too ripe for lubrication money.

John, I've got to confess that I don't understand this post. Are you saying that money paid as a result of a "shakedown" is not a "bribe." Or is your point that one who pays a bride as a result of a "shakedown" somehow possesses less moral turpitude than one who first approaches the public official with the bribe money? If that is your point, then I disagree. So-called "lubrication" is illegal for both the "lubricor" and the "lubricee." I have no knowledge of the facts of this case so I don't know who instigated the payment, but if money was paid, it's bribery and both parties to the "transaction" committed illegal acts.

[JLK]

I let myself feel hopeful about the space recently vacated by an off-brand video shop on Connecticut near Calvert-Woodley. The door and beginnings of an awning made me think "could be a restaurant." Today...BAM! I saw the sign. "Now Hiring. Potbelly."

I hate Potbelly. And why they thought that's what the 'hood needed with a Subway just across the street and a Quizno's up the block.

[Barbara]

I let myself feel hopeful about the space recently vacated by an off-brand video shop on Connecticut near Calvert-Woodley. The door and beginnings of an awning made me think "could be a restaurant." Today...BAM! I saw the sign. "Now Hiring. Potbelly."

I hate Potbelly. And why they thought that's what the 'hood needed with a Subway just across the street and a Quizno's up the block.

Oh, man. Is this the space which used to house the much-lamented Kitchen Bazaar? Or, the Royal Warrant? If so, what is the problem with this space??? It's just feet from the Van Ness Metro, in either direction. Geez, like I'm going to the subway to go to Potbelly.

[JLK]

Oh, and the Riedel's sign has been taken down. I don't see any signs that a new tenant is moving in though.

[bookluvingbabe]

Oh, man. Is this the space which used to house the much-lamented Kitchen Bazaar? Or, the Royal Warrant? If so, what is the problem with this space??? It's just feet from the Van Ness Metro, in either direction. Geez, like I'm going to the subway to go to Potbelly.

I think Kitchen Bazaar was across the street in what is now offices. This is next to the Gold's Gym and was a video store for as long as I can remember.

[Barbara]

I think Kitchen Bazaar was across the street in what is now offices. This is next to the Gold's Gym and was a video store for as long as I can remember.

Ah. Same thing. On either side of the street.