Bari Restaurant Equipment on the Bowery Purchases 2 Adjacent Buildings for $12.3M
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Bari Restaurant Equipment just enlarged its Bowery footprint. In a huge way.
The long-running business purchased two adjacent buildings this month in one fell swoop. The three-story commercial property at 234 Bowery and the mixed-use 5 Prince Street. The deal was worth $12.3 million. F&R Realty was listed as buyer, but this is actually the company that outright owns Bari, and is run by Frank Bari.
The cynic here might say that Bari is assembling a massive development area for an eventual sale. While the decades-old restaurant supply company isn’t going anywhere (they’ve confirmed as much in an email), this group of properties could eventually be sold for an exorbitant price.
Bari last scared the community some eight years ago when the flagship location – about 67,000 square-feet of buildable real estate – was placed on the market. The eponymous family has owned these parcels at Bowery and Prince since the 1940s.
The brand also owns the contiguous buildings at 241-245 Bowery, which includes the Sunshine Hotel.