Listed: Wassail Cider Bar Might Not Last Much Longer on Orchard Street

Posted on: November 28th, 2016 at 5:00 am by
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Just a short month after the second annual LES Cider Fest took over upper Orchard Street, one of its biggest proponents (and beneficiaries) might soon close. Indeed, Wassail now has brokers shopping around the space.

Real estate listings are peppered about Craigslist and included in Sinvin’s online portfolio. The twenty-month-old business – occupying 2,000 square-feet on the ground and 1,100 square-feet in the cellar – is pitched as follows:

  • Gorgeous new renovation with wide plank wood flooring and skylight
  • Vented chef’s kitchen, 14′ hood, legal prep in basement (on the C of O), custom audiophile sound installation, temperature controlled wine room, and two ADA compliant bathrooms
  • Seats 70 people spaciously, 16 seat cocktail bar with custom tap system and private dining room
  • Full 2 am liquor license to be transferred
  • Currently Wassail

It’ll cost $16,480 per month in rent, plus an additional $395,000 in key money to take over the lease (8.5 years remain).

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Kickshaw proprietors Ben Sandler and Jennifer Lim opened Wassail in March 2015. Upon its debut, the cider-centric bar claimed to be the only such dedicated destination in New York City. It took the reins from Todd’s Mill, which itself struggled through the previous two years.

This particular space at 162 Orchard Street is a difficult sell. Ever since The Orchard vacated the block in 2011 (they spent six years there), turnover has been trend. The fact of the matter is that the footprint is so huge, with rent to match, high volume is necessary to turn a profit.

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