238 Franklin Ave. in Nutley — Courtesy: The Kislak Co. Inc.
By Joshua Burd
The site of a well-known restaurant in Nutley and its liquor license have changed hands for $1.6 million, in a deal arranged by The Kislak Co. Inc.
Located at 238 Franklin Ave., the former Franklin Steakhouse consists of a 12,000-square-foot dining area, bar and banquet space in the township’s downtown. Kislak Vice President Julie Gralla represented the undisclosed seller and procured the buyer, whose name was also withheld.
“The high level of interest for this landmark restaurant property was more than I could have predicted,” Gralla said. “I only wish I had more properties like this to sell! It was a pleasure to represent both parties and I am very excited for what is to come for this restaurant and all of those involved.”
In a news release, Kislak noted that the two-story brick building includes around 4,000 square feet per floor and an additional 4,000-square-foot finished basement with restrooms, an office, storage, a butcher prep room, a keg room and coolers. The first floor has a chef’s kitchen and bar with restaurant seating, while the second floor is a banquet space with a dance floor as well as a smaller bar, prep room and bathrooms.
Recent upgrades include a gut-renovated first floor with updated restaurant equipment, HVAC system units, a new rubber roof and a heavy-duty commercial hot water tank, the news release said. Municipal parking is available behind the property.
