0 Broad Street, 12th Floor, New York, NY 10004
PIN#M10-15-SB-2019
The City of New York Department of Parks & Recreation ("Parks") has awarded a concession to LPQ Sailboat Pond, Inc, of 50 Broad Street, 12th Floor, New York, New York 10004, for the renovation, operation and maintenance of an outdoor café and snack bar at the Conservatory Water in Central Park, Manhattan. The concession, which was solicited by a Request for Proposals, will operate pursuant to a license agreement for one (1) Fifteen (15) year term. Compensation to the City will be as follows: The higher of a minimum annual fee or the minimum annual fee plus 10% of Gross Receipts exceeding $1,000,000. The Minimum Annual Fee for each operating year is as follows: Year 1: $250,000; Year 2: $262,500; Year 3: $275,625; Year 4: $289,406; Year 5: $303,877; Year 6: $319,070; Year 7: $335,024; Year 8: $351,775; Year 9: $369,364; Year 10: $387,382; Year 11: $407,224; Year 12: $427,585; Year 13: $448,964; Year 14: $471,412; Year 15: $494,983