The new proprietors, Patriot Gjonbalaj and Frank Gashi are both very familiar with New York City high-end restaurants, having spent a good part of their 20+ year careers training and working in them.
MAHWAH, N.J. (PRWEB) May 01, 2019
The River Palm Terrace, which has been consistently rated as New Jersey’s top steak house and one of America’s top restaurants, has been sold according to Barry Bielat of Bielat Santore & Company, Allenhurst, New Jersey the broker for the sale. The restaurant, located at the corner of Routes 17 and 202 in Mahwah, Bergen County, New Jersey is part of the trinity of River Palm Steak Houses. The other locations are in Fair Lawn and Edgewater, New Jersey.
The River Palm Terrace serves the best select dry-aged steaks hand-cut daily on premises. The restaurant continues to attract couples, families, business clientele, and celebrities all seeking a unique dining experience at this New York steakhouse on the other side of the Hudson.
“The new proprietors, Patriot Gjonbalaj and Frank Gashi are both very familiar with New York City high-end restaurants, having spent a good part of their 20+ year careers training and working in them,” adds David A. Alvarez, a sales associate of Bielat Santore & Company, who found the buyers in New York and introduced them to the River Palm Terrace. Alvarez worked closely with Bielat to negotiate, facilitate, finance and close this prodigious restaurant purchase and sale. Prior to their purchase of the River Palm Terrace, both Gjonbalaj and Gashi were managing the infamous Il Mulino Prime Restaurant located at 331 West Broadway in Manhattan. They also worked together as manager and head captain at Scalinatella Restaurant at 201 East 61st Street in Manhattan.
The new owners intend to continue to operate the River Palm Terrace as a classic New York Steak House and enhance the business through strategic and timely changes. They will immediately implement a new “bar menu” that is currently not being offered. In addition, they will hire a mixologist to design and serve-up specialty drinks and pair them with the newly created bar food menu. Corporate catering and private events will also be concentrated on to increase sales at the restaurant. The restaurant is open Monday- Thursday, 11:30 am – 10:00 pm, Friday, 11:30 am – 11:00 pm, Saturday 4:00 pm – 11:00 pm and on Sunday 3:00 pm – 9:00 pm.
About Bielat Santore & Company
Bielat Santore & Company is an established commercial real estate firm. The company’s expertise lies chiefly within the restaurant and hospitality industry, specializing in the sale of restaurants and other food and beverage real estate businesses. Since 1978, the principals of Bielat Santore & Company, Barry Bielat and Richard Santore, have sold more restaurants and similar type properties in New Jersey than any other real estate company. Furthermore, the firm has secured in excess of $500,000,000 in financing to facilitate these transactions. Visit the company’s website, http://www.123bsc.com for the latest in new listings, property searches, available land, market data, financing trends, RSS feeds, press releases and more.