Ryland inn

[chopjwu12]

I did a search on this and didn't find anything but i thought my friend told me it was on here as well. But for thos eof you who dont know the ryland inn is in fact for sale. First asking price was 11 million shelton has since dropped it to 9 million.

[Rail Paul]

If this is true, it should be interesting to watch.

How much is a superb restaurant worth if much of it is tied up in a single individual? Would the French Laundry be worth as much if Thomas Keller wasn't included in the deal?

Nice piece of property, but that's a very expensive price, even in a neighborhood where $2mn won't buy you an average home with a little land

[Kim WB]

Yes, I had heard the same thing..but Shelton only owns the restaurant and part of the land, but most of the acreage is in a partnership..and I think, (someone will correct me if I'm wrong, I'm sure), Dennis Foy is part of the partnership. I heard Shelton was looking in both Philly and NY...and my first impression at hearing the price is how LESS expensive it is than I thought it would be..a big issue would be if the develpoment rights have been bought by Hunterdon Cty Open Space or related entities...if the deed has restrictions, the land is appraised for less.

[chopjwu12]

Im working on further information as we speak. Im preety sure they cant knock the whitehouse down because of historical purposes. So for a land developer that migth be a problem. As far as how much land shelton actuallu owns im not 100% sure. He owns teh restaurant and the garden area. The property to the right of the restaurant is coowned i think and im not sure about the property in the back. The back goes a long way for those of you who haven't seen it. I will keep looking up info. Like i said i have some people doing some digging to make sure on all the facts. I will get back to ya all.

[Kim WB]

Shelton Assoc LLC owns 10.34 acres...that's the restaurant and gardens and parking... the resto fo the land, a much more substantial piece, is owned by an investment group..but apparantly, the entire package is being sold together.

[scarlet knight]

Why are they selling?

[Lreda]

I have heard for a couple of years that The Ryland was for sale. Out of my price range.

[Fat Guy]

I'll take two.

[Lreda]

Fat guy, enjoy your birthday.

[chopjwu12]

I can tell ya why its for sale. Its needs a shit load of work to it. The struture of that place sucks everything is warped and getting very very old. Its goign to cost way to much money to renivate everything which it needs. plus business isn't that great especially after the pharmasutical(sp) parties got taken away. These partys were put ona budget. They can only spend up to $100 per person which includes food wine tax tip. I think the ryland said no to ther proposal because it wasn't enough to cover their costs. Well that was a huge part of the business especially for lunch. This is what gave birth to that stupid bistro idea. So when you cant make enough money to make it worth your while its time to sell. Its not for any other reasons besides that. Shelton is great chef and i have nothing but respect for the man. Its sad to see this happening but hopefully he will go somewhere else and open a new place that doesn't need so much work.

[Rail Paul]

plus business isn't that great especially after the pharmasutical(sp) parties got taken away. These partys were put ona  budget. They can only spend up to $100 per person which includes food wine tax tip. I think the ryland said no to ther proposal because it wasn't enough to cover their costs. Well that was a huge part of the business especially for lunch.

This is very sad.

For folks outside the area, several major pharmaceutical company HQs are located near the Ryland Inn. One, Pharmacia, has been purchased by Pfizer, and folks are already getting their packages.

Another, owned by Johnson & Johnson, has implemented limits on entertainment in some departments, and restricted travel. A third company, Merck, is almost within walking distance of the Ryland, and has been reported to be monitoring spending very closely.

In Northern NJ, for many restaurants the lunch trade is often driven by business guests and sales meetings. Cut that back and the dinner trade may not be enough to pick up.

[scarlet knight]

My wife and I ate there about 2 years ago. We found it to be good, but not great food-wise. It appeared that a lot of the other diners were there on expense accounts and were not concerned about the high prices. Apparently, this place will be a casualty of the economic bust. I can't blame the drug companies for keeping an eye on expenses. If the employees want to go to the Ryland Inn, let them pay for it--unless the drug companies will make more money by wining and dining someone there. I suspect that there were expense account abuses. As a shareholder of some drug stocks, I'm glad to hear someone is watching the store.