Bankruptcy Sale: TAVERN ON THE GREEN - A Unique Opportunity

Tavern on the Green: An Iconic Brand

· Famous restaurant located in New York's City's Upper West Side overlooking the world famous Central Park

· One of the most recognized, non-fast food restaurant brands in the world that was recently appraised at a value of $19 Million

· 2nd highest grossing independently owned restaurant in the U.S., which generated close to $40 Million from one location

Background

Streambank LLC has been retained by the chapter 11 estates of Tavern on the Green Limited Partnership and LeRoy Adventures, Inc. (collectively the “Company” or “Companies”) to market the intangible assets of the world renowned Tavern on the Green restaurant. 

The Companies’ concession agreement with the City of New York (“NYC”) to operate the restaurant in Central Park expired at the end of 2009.  On September 9, 2009, after NYC announced its intention to enter into a concession agreement with a new operator, the Companies filed voluntary chapter 11 bankruptcy petitions in the United States Bankruptcy Court for the Southern District of New York.

Although the Companies were granted what has now become an incontestable service mark registration from the United States Patent & Trademark Office for the “TAVERN ON THE GREEN” name (the “ Name”) in 1981, NYC has challenged the Companies’ ownership of the Name in litigation currently pending in the United States District Court for the Southern District of New York.  The Companies’ intent to sell the Name may be affected by the outcome of such litigation.

Streambank was retained to market the Companies’ intellectual property assets, including the Name, which the Companies intend to sell in a bankruptcy court- approved sale process.  We are seeking a bid for the purchase and/or license for use of the Name.

Contact Us

Gabe Fried
gfried@streambankllc.com

Jack Hazan
jhazan@streambankllc.com

Margaret Birlem
mbirlem@streambankllc.com

Streambank, LLC

97 Chapel Street, 3rd Floor
Needham, MA 02492
Phone: 781‐444‐4940
Fax: 781‐651‐4272

Bankruptcy Sale: TAVERN ON THE GREEN - A Unique Opportunity

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Tavern on the Green: An Iconic Brand

· Famous restaurant located in New York's City's Upper West Side overlooking the world famous Central Park

· One of the most recognized, non-fast food restaurant brands in the world that was recently appraised at a value of $19 Million

· 2nd highest grossing independently owned restaurant in the U.S., which generated close to $40 Million from one location

Contact Us

Gabe Fried gfried@streambankllc.com

Jack Hazan jhazan@streambankllc.com

Margaret Birlem mbirlem@streambankllc.com

Streambank, LLC

97 Chapel Street, 3rd Floor Needham, MA 02492 Phone: 781‐444‐4940 Fax: 781‐651‐4272

Gabe Fried
gfried@streambankllc.com

Jack Hazan
jhazan@streambankllc.com

Margaret Birlem
mbirlem@streambankllc.com

97 Chapel Street, 3rd Floor
Needham, MA 02492
Phone: 781‐444‐4940
Fax: 781‐651‐4272