Posted: 8/24/24 at 1:17pm
I originally had the same question but I heard an interview with Joe Iconis who's been championing its survival and based on what he said it seems like their revenue stream has been enough to pay the bills but what they really needed help with was the back rent or debt they accumulated during the pandemic (especially since they couldn't benefit from the government money)
Posted: 8/24/24 at 2:03pm
It's nice that Iconis is leading the charge here, but he's made his artistic home base at 54 Below for years. Part of the Beechman's problem- and maybe their largest problem- is that folks like Iconis aren't performing there very much anymore. Raising money is a short-term fix at best.
Posted: 8/24/24 at 6:25pm
I love this restaurant and venue but didn’t they already have a gofundme and a telethon a few years back? If they couldn’t remain solvent after that, isn’t the writing on the wall?
A lot of big names and heavy hitters came out for that telethon and this round doesn’t seem to have the same level of fervor among the community.
Some big names should actually book shows there to help out.
Posted: 8/24/24 at 6:53pm
Bianca Leigh has a show there tomorrow night.
The messaging has been a little mixed, but from what I understand, the funding during the pandemic got them over the hump, but without the government help (they didn't qualify for some grants/loans that venues like Joe Allen and Sardis got) they had a hard time catching up when Bway was slow to bounce back. They seem to be doing great now, they were packed when I was in there the other night with a handful of famous Broadway people, and from what I've been told by some friends at Manhattan Plaza, they're working on a new deal with the land lords and have some new business models going into play soon. Just what I've heard from around the neighborhood.
Posted: 8/24/24 at 9:01pm
When the GFM started, it was represented that they needed $850k to avoid closing before the end of this month. They have raised a little over $100k (a little under, net of fees). To me, if the money was for back rent and debt servicing, they are far from satisfying any landlord or bank. Even more disappointing is what the donations show. The average donation is about $120. (I pitched in $100, so one thing it shows is that I must be cheap. lol) There are only about 820 total donors. That means no one is kicking in big bucks and/or most people are only donating something like the cost of a beer. It also means that the "community" is less than a thousand people. That might not matter if one has a lot of "unengaged" traffic, but let's face it, they don't. If the emergency appeal only brought in 11% of its goal, I suspect most of the development types would tell you that the hill only gets steeper from here on. Still sadder is that some are hearing about new business models (plural?) coming soon. The time for a new model (something anyone paying attention knew quite a while ago was desperately needed) is not something one puts into place on the doorstep of one's eviction.
It gives me no joy to inject this dose of reality into the mix at this point, but it is kinda important lest one read too much into this situation and think it is necessarily striking the death knell of what the "competition" has as their prospects.
Posted: 8/25/24 at 10:53am
