La Fourchette Sales Price Drops to $2,600,000

la fourchette
2429 18th Street, NW

Back in September 2014 we learned that La Fourchette was for sale (open since 1978 in Adams Morgan.) At the time it was listed at $2,900,000. I just noticed a new listing today with a $300k price drop:

“Bar/Restaurant/Apartment. In heart of Adams Morgan! 2,588 sqft rest/bar with liq license, outdoor patio seating,20 ft ceilings, exposed brick wall, dry storage basement/laundry/office. Building also has 1,680 sqf two floor 3br, 2bath apartment, move-in condition w/ separate entrance. Total bldg sqft = 4,268. New streetscape. Over $500M in develop underway with new hotel and condos”

14 Comment

  • Sounds like the seller wants to cash in all of the future redevelopment windfall, building and neighborhood, and leave the buyer struggling to break even.

    • We live right near here and see the owners everyday. They are an older couple, I think they live above the restaurant. They spend 90% of their day sitting out front, drinking coffee, smoking cigarettes, and hanging out with their French ex-pat friends. I’ve never seen more than 5 tables filled, even on a busy Friday night. This price explains a lot….they are sitting on a gold mine.

      • I would want to see there Income Statements for the last die years before characterizing it as a gold mine. Most restaurants are quite the opposite.

        • Not the restaurant itself. When I say “gold mine” I’m referring to the value of the real estate. They don’t care about making a profit because they have the building paid off and are going to come into a huge windfall when they sell. They’ve been there for 40 years!

          • To clarify my original post. The place as-is is probably worth around $1.8-2.0MM. However, they are selling using a business, not residential, valuation, i.e. what the value is for a potential buyer. That is to say, they are pricing as if renovation and a new restaurant are already in place.

  • When I was growing up in DC in the 70s, this was the spot we went to for fancy dinners, like when my grandparents came to town and treated my lawschool mother to a meal. I’ll be sad to see it go. Is it still open? I want to go at least once before it closes. Is Cafe Lautrec still next door? I never go out in Adam’s Morgan anymore.

  • !0 years ago, perhaps even still, LF had the best brunch on 18th.

  • For a while, LF used to be my local go to brunch place in the neighborhood, but the food and service has gone seriously downhill in the last few years. Not sad to see them go, but I hope another Shenanigans/McNasty’s-type bar doesn’t replace it.

  • If it was worth $2.6M, I would think someone would have already made that offer when the price was $2.9M. Maybe it’s not worth as much as the owners think it is.

    • Does anyone know what the building rights are for this row? Would a new owner be able to demo and rebuild much taller? Remember – this place has a liquor license. That’s worth a lot in Adams Morgan.

  • ok ok ok……… across the street the Ethiopian restaurant sold for 1.7 or 1.8. or so. to this day it has sat vacant ,,,,, the orgina listing price was bad and this price is still way over market value. i love the food and the owners but it is overpriced and they are going to get less then they could if they had a good agent

Comments are closed.