Madison Square Park Food Stand Concession Awarded to Custard's First Stand
The City of New York Department of Parks and Recreation (Parks) has awarded a concession to Custards First Stand, LLC (Licensee), of 225 Varick Street, Suite 301, New York, NY 10014, for the operation and maintenance of a high quality food stand and outdoor café at Madison Square Park. The concession was awarded t…
Source ID: US-NYC-NYC-AWARD-20251107020
Estimated value
As published by the source; may be updated by the buyer.
Scope overview
The City of New York Department of Parks and Recreation (Parks) has awarded a concession to Custards First Stand, LLC (Licensee), of 225 Varick Street, Suite 301, New York, NY 10014, for the operation and maintenance of a high quality food stand and outdoor café at Madison Square Park.
The concession was awarded through a Negotiated Concession process pursuant to Section 1-14 of the Concession Rules of the City of New York. The License will provide for a one (1)-year term with two (2) one (1)-year renewal options. Compensation to the City will be as follows: Operating Year 1: Guaranteed Minimum Annual Fee of $960,505 VS.
11% Annual Percentage of Gross Receipts Option Year 1: Guaranteed Minimum Annual Fee of $989,320 VS. 11% Annual Percentage of Gross Receipts Option Year 2: Guaranteed Minimum Annual Fee of $1,019,000 VS. 11% Annual Percentage of Gross Receipts Vendor: Custards First Stand, LLC (225 Varick Street) Selection method: Negotiated Acquisition
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