Filed under: Dining
The investment group, called Racing Restaurants of America, is headed by president Keith Kantrowitz, president of New York City-based Power Express Mortgage; with managing partners Paul Carlucci, publisher of the New York Post; and Steven Schoenfeld, managing partner with MPS Global Securities, several jockey and horse trainers and Connolly and Dillon. The restaurant has been in existence for more than 70 years serving the horse racing aficionados who converge on Saratoga Springs each summer. The Albany Business Review reports that the restaurant went on the market early last year for $3.1 million but the price was later reduced to $2.7 million. The sale price isn't known but the group has already gotten to work investing in the property, installing new televisions and granite countertops and improving the patio. Kantrowitz, a longtime patron of the restaurant and racing fan expects the revenue to be $6 million in just the six weeks of the racing season. The restaurant is traditionally only open during track season but will remain open on weekends through October.
A menu posted on the Siro's website shows that the restaurant serves pricey dishes including seared Hudson Valley foie gras, broiled aged prime sirloin, roasted rack of Cassel Farm lamb and Maine lobster. Entries cost upwards from $30.
Gallery: Celebrity Restaurants