Battery Maritime Building
Multi-concept landmark real estate development
New York, NY
PNC Bank’s historic tax credit division group was in need of assessment and due diligence services for a multi-concept food and beverage operation planned for the Battery Maritime Building at the southeast tip of Manhattan.
It was necessary to determine the reasonable, appropriate and viable financial expectations and projections for an array of food service options within a specialty complex. Next, which concepts were required and ideal for a complex of this nature? And how would these various lines of business work in tandem to support each other?
HPI was engaged to conduct due diligence on the financials of all food and beverage operations being considered, as well as to work with the operating partner in fine-tuning them. The team was also asked to provide independent projections at a later point based on assessment of market potential.
– Market studies + competitive analysis
– Due diligence + feasibility studies
– Business modeling + plan reviews
– Financial projections + budget pro forma