We spoke about Karu & Y and it's now infamous demise from nightclub/restaurant glory last week. Now for all you entrepreneurs the owner of Y, Elliot Monter, has decided to amputate the bleeding investment from the knee.
"With the amount of money I had laid out, I didn't have the holding power to stay there and continue to absorb losses," Monter said. "We were generating good revenue, but we just had out-of-control costs and poor management."
Well Mr. Monter, when you open a $25 million behemoth on the outskirts of Overtown you might have had the foresight that you were gonna have huge operating costs. So if you got some extra cash lying about you can buy the lease of Monter's hands for the bargain basement price of $6million, but plan on paying less as the now defunct venue is a pariah in Miami Nightlife lore. Whoever takes the leap and buys the lease needs to seriously rethink the approach to owning a high end club on the borders of OT. Fuk da Glitz and Glamor and go for middle of the road, middle class socialites that are now inhabiting the rejuvenated Downtown Area. We could talk all day about the failings and bad decisions Karu made, but at the end of the day I want to know what the new prospective owner can do to generate new interest in the failed venue.
[Miami Herald Article: Glitzy Karu & Y restaurant seeks a buyer]
and by that you obviously mean me backed by abuela's backyard buried retirement cash.
Ay si, we'll have Vicky Bakery (Hialeah) do the catering.
Let's set up a couple piñatas hanging were people could whack them for diffrent goodies- or better yet we'll give local crack head bags of goodies and have people chase them with bats as they scatter said goodies around the party.
as always, a full proof plan lol btw, your bangs are the fierceness sopping wet across your forehead lol
I can't wiat to break out the new one on Saturday at Bamby