Thursday, July 24, 2008

Is Johnny Mañana's For Sale?

Johnny Mañana's (that's with a ñ, damn it!) has to be the most famous restaurant in Allentown, if not the whole damñ world. For one thing, the kiddies at QCD just love it! So do Allentown Good News and Our West End Neighborhood. Allentown Mayor Ed Pawlowski's big tipping was first noticed at that restaurant. It's also where he held his Fiesta fuñdraiser. As Hizzoñer posed for pics with his croñies, four people were shot just a few blocks away. One of them died.

Ay carumba!

Only one gringo was dubious - Michael Molovinsky. "This joke is located in a KOZ and already pays no taxes. It was given a special low cost city sponsored liquor license. It appears [that a] $50,000 [grant] was virtually blackmail to open up, so our agency leaders could crow about how wonderful are their accomplishments."

Well, now that Mañana's KOZ classification is set to expire, a little birdie just told me it's for sale. Asking price? $1.2 million.

Update: According to an ad with Frankin Acquisition Advisors, a Lehigh Valley Tex Mex restaurant is for sale. "Great location in Lehigh Valley with liqour license. Every attention to detail has been made in this state-of-the-art restaurant and sports bar. All equipment and build-out is brand new. There is approximately 7,000 square feet of resaurant space with additional storage. A great 15 year lease is transferable. Build-out, furniture, fixtures and equipment total almost $3,000,000!"

17 comments:

Anonymous said...

I heard a rumor that there are actually some NY investors anxious to get that space.

Alfonso

A.J.C. said...

What's Pawlowski & Co. going to do now?

Oh, yeah... Denny's is still available for bogus presentations. They'll be alright!

Anonymous said...

Maybe if the Restaurant had decent service and wasn't always out of the dessert or entree I would like to have, it would be more successful. I think the management is lacking.

Anonymous said...

Not a bad price. Someone will snatch it up.

The food and decor is great, several other things can use some work, management for one. This place will do fine in the right hands, just look at the Brew Works.

Anonymous said...

I thought the KOZ ran until 2015 or something like that?

The Banker

Bernie O'Hare said...

Banker, So far as I know, there is only a year or two left.

michael molovinsky said...

dear anon 8:00, not a bad price? now much is the rent? the good will is low, as is their gross. are you just an apologist or do you know something about the restaurant business we do not?

Anonymous said...

On the KOZ, 1 or 2 years left will make that a non-issue in selling the business, too short to matter. Wonder if our illustrious politicians will try to extend it?

No idea on the price (have to look at #'s for that) - anyone have an idea how many restaurants are for sale in the Lehigh Valley, what this one woudl be up against?

The Banker

Bernie O'Hare said...

What is being sold is the lease, the equipment and the liquor license that Pawlowski got for the place, which I presume cannot be harvested and sold elsewhere.

Anonymous said...

The KOZ currently ends in 2010. However, it is important to remember that Rendell just recently was expressing interest in extending it. What a surprise?Of course, local legislators would have to vote to extend it. What do you think our Allentown city council members would do?

Anonymous said...

I must clarify it lasts thoughout the year of 2010 making properties go bcak on the tax rolls in 2011.

Anonymous said...

The KOZ is being extended fo certain properties that have not been developed and provided municipalities the ability to expand to a limited number of new properties.

It has already been determined that the PPL Plaza and Brew Works (and others) will expire in 2010.

Bernie O'Hare said...

I deleted an anonymous comment, posted at 1:30 PM, containing an ethnic slur.

Jeff Pooley said...

Good sleuthing, Bernie. Sorry to see this, if true--though the restaurant's food was pretty bad and marketing non-existent. I hope something much better opens. Looks like Mexican is opening around the corner, at the former Lee's Gourmet Bistro space, on August 2nd. Just found the website:

www.latortillalv.com

Anonymous said...

Bernie,

I have it on good authority that JM's owes PPL a bundle; over a million $.

Everybody better hope for a quick sale or they'll be drinking warm margarita's. The food is already inedible even with the power on.

Bernie O'Hare said...

Wow! I'm sorry to hear the food and service have deteriorated. I ate there a few months ago. The food was actually pretty good and the service was great. The waitresses were quite nice. It wasn't at a busy time.

Anonymous said...

I knew something was up; they asked me how to spell "dos equis" the other night.