A local attorney is selling a “pocket” liquor license for Secaucus and an established bar and restaurant business has put its consumption license up for sale in town, according to the broker tapped to sell the permits.
Such licenses generally sell in the low-six-figure range, although purchases of up to $500K can be had in a hot market.
Ron Cervelli of Regal Consulting Corp. (RonCervelli [at] regalconsultants.com) told eSecaucus that he could not reveal the business selling the consumption license because the owner did not want that information public as the employees have not been notified.
A listing for the license indicates it is located in a “busy mall, 5488 sq ft store available priced right,high traffic area,owner motivated to sell.”
Liquor licenses are a hot topic in the area of late. The New Jersey Restaurant Association is seeking to block a state decision that will let Xanadu restaurants serve booze with concessionaire permits. That would allow those eateries to serve drinks for only a $2K permit fee, rather than acquire a liquor license from East Rutherford for a sum that would at least top $100K. The NJRA is taking Xanadu to court over the policy.
Also, a bill has been introduced in the state legislature to repeal a 50-year-old law that implemented a two-liquor-license limit per company/owner. Food retailers are supporting the bill while liquor stores and bars are against the measure.