Steinway Billiards Closing

FYI, this was sent to me by a Steinway employee after I sent them this thread:

If you can reply directly from us. We haven’t been offered anything yet nor have we been approached by developers. As far as we know, we still have a 5 year lease left. In addition after speaking to the property owner and a few others on our block, our location is not included in these plans and the property has not been sold to the developers. So we at least have a year left before they start making moves or offers
It wouldn't make sense they would announce this, unless the land purchases were already in placed. In the picture from the article, Steinway is the distinctive green awning in the third block, next to PC Richards.

If Steinway hasn't been formally approached, this gives them a big heads up and advantage when it comes time to negotiate.

 

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I don't know much about NYC but I'm surprised to hear this. My impression was Steinway was a big time pool hall.
 
Not trying to change the subject but does anyone know when the Golden Cue on Queens Blvd. closed? Have not been back there in over 50-years.
 
And in the world of NYC real-estate that don't mean shit.
Yeah. The project is not a 3-story building with 30 apartments. And it's not going to happen within a year.

Reading the description, it seems like Steinway could make a good argument for keeping its space in the new buildings. Maybe they could do restaurant on the ground floor and pool hall in the basement.
 
Yeah. The project is not a 3-story building with 30 apartments. And it's not going to happen within a year.

Reading the description, it seems like Steinway could make a good argument for keeping its space in the new buildings. Maybe they could do restaurant on the ground floor and pool hall in the basement.
The way i saw the map-The red circled buildings were all on the opposite side of the street and Steinway is most likely not zoned for manufacturing while there is MFG on the PC Richard side of the street towards Northern B in the red circled area.
 
It wouldn't make sense they would announce this, unless the land purchases were already in placed. In the picture from the article, Steinway is the distinctive green awning in the third block, next to PC Richards.

If Steinway hasn't been formally approached, this gives them a big heads up and advantage when it comes time to negotiate.

Didn't they say they have 5 years left on their lease.?That means they have no leverage at all. They're not the owners of the property. The best they'll get is compensation for the remainder of their lease. I'm sure a pool room isn't in the plans for the new complex. They will either retire or have to find another space. I'd really hate to see them go. I really like that place.
 
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Yes, exactly right. I first went to the Golden Q with my father in 1966 when I was just eight years old and played thee until about 1986. It was a great room and it's missed.
Was indeed a great room. My highlight was watching a Luther Lassiter vs. Cisero Murphy match there circa. 1966.
 
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Didn't they say they have 5 years left on their lease.?That means they have no leverage at all. They're not the owners of the property. The best they'll get is compensation for the remainder of their lease. I'm sure a pool room isn't in the plans for the new complex. They will either retire or have to find another space. I'd really hate to see them go. I really like that place.
Hopefully the restaurant angle as suggested by Bob will work in steinway's favor?

But I guess in the long-term, one could see them getting squeezed out by the rent.
 
Hopefully the restaurant angle as suggested by Bob will work in steinway's favor?

But I guess in the long-term, one could see them getting squeezed out by the rent.
Unfortunately I think it will be impossible for them to stay. The new rent will be astronomical. That area is mostly industrial right now. Once they put luxury apartments in the area, it's game over for any decent retail space rent.
 
These days in a big city, a poolhall would last if you own the building.
Not many people have that type of cash.

Other than the usual combo, bar, restaurant..
A semi industrial, commercial area would suit an even more mixed business.
One that includes a warehouse, showroom and workshop for selling tables, cues and custom work.
All under one roof.
Even co-sharing the warehouse with another business that has a showroom next door. Could be sports related or hobby related, like a RC shop.

You have to diversify like crazy these days.
Now with the added challenge of making the business pandemic resistant.
So, good website and online sales a must.. With the above model of a warehouse, you can do just that.
I know, I have, just in a different market the last 3 years.
 
According to the development plan outline, it looks like the ol’ Riviera Club across the way will be spared!
 
Was indeed a great room. My highlight was watching a Luther Lassiter vs. Cisero Murphy match there circa. 1966.
And they had decent food also. I used to get the Baked Ziti for $6.00. It was enormous and I'd eat 1/3rd there and take the rest home where I'd eat it for the next 2 days. What I didn't like was the weekly tournament on Thurs? wouldn't start until 10:30 or later. Crazy-especially for an old working man.
 
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