Dec. 2, 2013 By Christian Murray
The party finally came to an end for the Family Entertainment Center.
The entertainment center, best known as Paradise Café Billiards, closed recently and real estate brokers are seeking a new tenant for the 48th Street (and Barnett Ave.) property.
The property, which also includes a second floor that used to house a gymnasium, is 52,000 sqf.—and is comprised of two 26,000 sqf. floors, according to Swain Weiner, a commercial real estate broker for Greiner Maltz.
Brokers are looking to rent the entire property for $23 per sqf. (including base real estate tax), equating to just under $50,000 per month. The owner is prepared to lease each floor separately, with the sqf. rate being slightly higher for the ground floor, but lower for the second floor where the dilapidated gymnasium was located.
This property was once the location of Pulse Fitness, a gymnasium that suddenly closed in April 2012. Many members—some who had just taken out memberships—went to workout one Monday morning only to find it shuttered with a “closed” sign posted to the door. Several lost money.
Meanwhile in July 2013, the entire property—which included the billiards hall—was listed for sale, with the listing saying the billiards hall would be gone by year end. The owner of the billiards hall called this publication saying he had just signed a lease and was planning to stay in the building for several years.
However, the pool hall has closed and is today boarded up. In months prior to the closure, there were posters in the window offering memberships.
The owner could not be reached to see if members were refunded.