The saga of Smalls takes a sad turn

[lkaven]

Would that it weren't.

This weekend, Mitch and I spoke with Farias (a.k.a. José Farias de Couto), the proprietor of the establishment at 183 W10St wherein the club resides, during which he informed us that the establishment is to be sold, and that an offer has been accepted on the place. The buyer is a friend of Farias who, we are told, has no intention of hosting Smalls. We have been offered the right of first refusal. The asking price is $300,000. We were given two weeks (perhaps a bit more) to come up with that. If we don't the place will close almost immediately.

Farias cited low numbers, but this is specious in my view. I have a good estimate on what the actual revenues are, and they are enough to put the business in the black. I believe that Farias was looking for a way out from the beginning, and he took us on as a convenience until he could find a buyer. I do not believe that selling the business after four months represents good faith. It certainly did put Mitch and me out a great deal for no good reason.

That amount asked is a little too high in our view. We are hoping that it could be obtained for less, closer to $200,000. That is a reasonable amount in consideration of the complete renovation, full liquor license, new HVAC, and ten year lease under market rates. In the time we have left, we are looking for buyers. Clearly, it would be best to have Smalls in the hands of someone with a commitment to its future. Interested parties should contact me immediately. [i've also posted this message at Jazz Corner.]

Luke Kaven

Smalls Records

lukeATsmallsrecordsDOTcom

[BeBop]

This is most unfortunate. I only wish I was in a better position to assist.

[lkaven]

Last minute appeals by Mitch Borden persuaded Farias last night not to sell the business for the time being. I don't know how long that will last, but it will give us some time to try to keep it going. I received some expression of support personally, but I do not know how far this will carry. But at least there is no demolition date scheduled, as there had been before.

Luke

[Alec]

How about 300 of us chip in $1,000 apiece?

I've always wanted to own a jazz club!

Actually a plan like this could work!