Plan B Fails in Nolita
Nolita Northern Spanish tapas restaurant Plan B is looking to get out of its lease at 244 Mulberry Street and Eastern Consolidated’s James Famularo and Ravi Idnani were tapped to sell it.
Plan B pays $20,888 per month in rent, according to the marketing materials for the 2,000-square-foot space on the ground at the building between Spring and Prince Streets. The restaurant is seeking $545,000 in key money to walk away from the 10 years left in the 12-year lease.
The place will close “when I make a deal with somebody,” Mr. Famularo said.
When asked why Plan B should demand so much in key money, Mr. Famularo noted that Plan B put more than $1 million into the place for a new bar, kitchen, equipment and acquiring licensing. “Also, because of the co-tenancy in the area, everybody does well there,” he said.
But what about Plan B, a reporter inquired.
“Think about the name,” Mr. Famularo responded. “Plan B. What’s your plan A for the night? If that doesn’t work, then plan B.”
He added: “It’s a bar and kind of a strange restaurant concept. They have python and ostrich on the menu. Bizarre. That would be a plan Z for me.”
A look at the online dinner menu reveals dishes like pig trotters, bull testicles and python sausage.