Two New Yorkers, Richie Akiva, 36, and Scott Sartiano, 39, launched their Manhattan nightclub 1 Oak with big ambitions: to attract the richest people in the world. But when they opened in February 2008, right after the market crash, Wall Street was reeling.
The partners invested $3 million to launch and were expecting trouble, but they say it was a hit from Day 1. They’ve built a multimillion-dollar hospitality brand that is expanding in the US and offshore.
1 Oak is the moneymaker in their nightlife/restaurant Butter Group, with the clubs pulling in about $50 million a year. Other than Manhattan, they are now in LA, Vegas and Mexico City, and just launched in Southampton, LI.