How Marcus Plans to Grow Queens Vibe (formerly “Artistic Stitch Sports Complex”)
Well this episode was a bit of a roller coaster ride with some serious plummets that could have killed the deal. It also has some interesting deal-making aspects.
The Artistic Stitch Sports Complex is an odd collection of businesses all operating under one roof in Queens. The two owners, Sal and Nic, are friends who have been in business 18 years to date. Their bread and butter businesses are embroidery, silk screening, (and sign making*). However, they were able to get a deal on an old 28K sq. ft. warehouse a while back which had far more room than they actually needed. So to justify taking over the entire building they came up with some pretty weak secondary businesses. These include a restaurant and a sports complex where people can play basketball or get in some batting practice. These add-on businesses appear to take up 80%, if not 90%, of the floor space, with the profitable ones “shoved into a corner,” as Marcus put it. Walking around the place, he described it as the “world’s weirdest mini-mall.”