NEW YORK Restaurateur Dean Poll has been awarded a 20-year contract to run the iconic Tavern on the Green restaurant in New York's Central Park, the city's Department of Parks & Recreation said Friday.
The selection of Poll, who also operates the Central Park Boathouse restaurant, concludes a lengthy bidding process that at one point included such well-known restaurateurs as Union Square Hospitality Group’s Danny Meyer and the Brennan family of New Orleans.
Also coming to an end at the restaurant is more than 30 years of management by the LeRoy family. The fine-dining restaurant opened in 1934 and has been run by the LeRoys since 1973.
"We are saddened and disappointed by the decision,” Tavern spokeswoman Shelly Clark said on behalf of the LeRoy family. “We congratulate Mr. Poll. It’s been an honor to operate Tavern on the Green for 35 years. Our deepest gratitude goes to our diners, friends and wonderful staff for their support.”
Anumber of operators had vied to win Tavern’s contract when it first went out to bid earlier this year, but the majority of them backed out after determining that the cost of renovations would be too steep in a depressed economy.
Poll submitted the highest rated proposal for the property, said Adrian Benepe, commissioner of the parks department. His proposal included a capital investment of $25 million for structural improvements, such as a new HVAC system, electrical and plumbing systems, kitchen improvements and a roof replacement. Plans also call for the restaurant to feature green technology, ADA accessible restrooms, as well as a new elevator and landscape designs.
The renovation will be conducted in phases so the restaurant can remain open.
Poll also plans to create a more casual outdoor cafe on the premises in order to accommodate more customers.
“I am excited for the opportunity to bring a fresh vision to this wonderful New York City landmark, one that will keep its unique charm while at the same time introducing new features to this special place in the park,” Poll said.
In addition to the capital investment Poll will make in the restaurant, he also will be expected to pay to the city either an annual fee worth millions or a hefty percentage of annual revenues, perhaps as much as 16 percent to 20 percent. In 2008, the restaurant reported sales of more than $36 million.
But the biggest issue associated with the change in management may be the fact that the LeRoy family owns the intellectual property associated with the restaurant, including its name and the glitzy, ornate design it is known for. The intellectual property reportedly has been appraised at around $19 million.
When questioned about that issue in the past, Poll has said he would consider all options available to him after winning the contract.
Despite losing the Tavern contract, Clark said the LeRoy family still plans to open a Tavern on the Green restaurant in San Francisco, but she offered no details about the project.
“We have plans for that, to make that happen,” she said. “I don’t know how this will impact that at this point.”
Clark added that the LeRoy family would continue operating the restaurant until the contract runs out Dec. 31.
“We’re not closing,” she said.
Contact Elissa Elan at [email protected].
