Despite the poor economy, New York restaurateurs are hungry to make a deal for Tavern on the Green.
Operators of such famed eateries as Union Square Cafe, Michael Jordan’s Steak House, Central Park Boathouse and Smith & Wollensky have taken a look at the famed Central Park restaurant, city officials revealed yesterday.
The Parks Department has put out a “request for proposals” to take over the operating contract for the landmark eatery when the license of longtime owner Jennifer LeRoy runs out at the end of the year.
LeRoy hopes to keep the lucrative business, the second-largest-grossing restaurant in the United States. She and her family have run Tavern since 1974.
Bids for the city franchise are due by May 1.
Representatives for Danny Meyers’ Union Square Hospitality Group have toured the restaurant, as have people working for Donald Trump although last month The Donald said it was “highly unlikely” he’d submit a bid.
A representative of the embattled Cipriani group has taken a look, as has hospitality-management company Delaware North.
Seventy-seven bidders or their representatives have toured the restaurant. “We’re expecting about five or six bids to come through. A lot of this is gawking,” said Michael Desiderio, Tavern’s chief operating officer.
LeRoy and her organization own the restaurant’s name, and say they’d sell it to a new operator for $19 million.
It’s possible a new operator will give a new look to the Tavern’s building.
The Parks Department said it hopes a new operator will create more “synergy between the park and the building” by opening up views of Central Park from inside the restaurant.
It’s unclear how much money the city wants for the license.
LeRoy last year paid the city $1.27 million, equal to 3.5 percent of gross receipts. The Central Park Boathouse, which grossed half as much money in 2007, paid the city $2.55 million twice what Tavern paid.
“The city wants to share on the upside,” said Desiderio.
He said he hopes LeRoy’s understanding of the restaurant and its market will help it keep the franchise. “More so than anyone else, we know where the business starts to make money,” he said.