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Masso on Vernon Blvd closes, business listed for $350K

Feb. 28, 2017 By Hannah Wulkan

A popular LIC restaurant has shut down and the business is now for sale.

Masso, an Italian restaurant at 47-25 Vernon Boulevard, shut down last month after more than a decade in business.

According to a broker for the business, owner James Powers simply decided to sell the restaurant because he decided to move further east and did not want to run the restaurant anymore.

The business is now listed for sale for $350,000 by firm Modern Spaces, according to broker Troy Allen, including all the equipment and items needed to maintain it as a restaurant.

The lease on the property is good for the next 14 years, Allen said, with rent at $6,500 per month, and a five percent increase in rent annually.

For more information see the listing at Modern Spaces.

LIC Talk was first to report the listing.

Car crash in 2010 (LIQCITY)

 

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27 Comments

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MRLIC

Jon, I was speaking in general how one business and one closes around LIC and Vernon Blvd area in general. I did read the article and may have overlooked the part of the owner moving farther East. Many people commenting here seemed to dislike this place. Could this be why the owner wants to mover farther East. A Failing business??????

Reply
Jon

Do either of you know him? Maybe he just wants to retire to the Hamptons or something. I’m hearing nothing but pure speculation. Maybe this, maybe that. Maybe his phones were tapped. Could have happened. Someone could have done it. Maybe it was Barack! Unless you know why the guy decided he wants to move father east, all you can say about his business, which he seems to think he can get $350K for, is that he did not want to run it anymore. So he’s not “closing” the place, he’s selling the business and moving on. Life.

Reply
Lasagnia

Masso was a hidden gem. Ratings were bad on soc media, i think that led to it being empty a lot – was a good food arb. Sad to see it close.

Reply
locked horns

i heard there’s a Greek place opening in the old San Remo spot. unsure if inexpensive or not.

Reply
yasss hmmmm

there is a Greek place opening there. By a real Greek guy, named George. i spoke to him for 30 minutes shortly after he purchased the lease.
he was very pleasant, and said he’s going to make delicious greek food for us all

Reply
Anonymous

Short distance is relative.. still need to get in a car and drive 10-15 mins or 2 subways. A casual greek restaurant serving gyro sandwiches/platters and greek salad with fresh feta, local to hunters pt area would be great. Don’t need to try to be fancy with grilled octopus.

Reply
yasss hmmmm

not true at all! if everyone is leaving to go eat elsewhere that is why restaurants are closing. think about it.
what is wrong with the people in this neighborhood?

Reply
tsloi

Looks like around $35/sq ft per year. Pretty cheap rent for the area, hopefully get a decent replacement restaurant.

Reply
yasss hmmmm

at $350K, how do they justify the price of a failing restaurant. After renovations costs, you may be in $500K

They won’t make any money back for 2/3 years at best

Reply
Paul

Oh sure an Indian restaurant sounds great…but knowing LIC, it’ll probably be one of those organic, no curry, no masala, non spicy Indian joint with a huge pointless mural outside–and the indoors will probably look like a metallic basement, with a picture of the Taj Mahal sprayed with Graffiti. …oh and theyll probably butcher the recipes of famous indian cuisines into stupid names like “No Butter Chicken Tikka” or the Vegan Paneer and Gluten Free Naan.

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