Sammy Hagar is bringing his rock and roll tequila-loving spirit to the heart of the Big Apple in the coming year. As The Real Deal reports, the former Van Halen singer's Mexican-American eatery chain, Cabo Wabo Cantina, will set up shop at 725 Eighth Avenue in the heart of the city’s Theatre District just a block away from Times Square, with the official opening scheduled for sometime in 2019.
The space has been occupied by Marky Mark’s Wahlburger chain, which has run into difficulties and never really took off in its Times Square location. Instead, Hagar’s establishment will now settle in with its new 10-year lease, with rent running at a manageable $400 per square foot. To put that into perspective, the entire layout of the property includes an estimated 7,600 square feet. That's more than a $3 million monthly rent bill, without even considering the staff payroll, marketing or inventory costs. Welcome to New York!
Hagar’s well-known party business isn’t quite to the success level of Jimmy Buffett, but strong enough to have remained thriving since 1990 with restaurant/venue locations in Las Vegas, Lake Tahoe and Los Angeles. Hagar has never been shy about promoting his tequila-based brand during his concerts, as fans can typically see his Cabo Wabo Tequila on sale at the venues where he plays in addition to his bartender sidekicks offering folks in the front row with complimentary shots.
Fans should also expect for Hagar and his team to set up some kind of performance space in the five-story building. The city’s Times Square area already has its fair share of performance venues including Madison Square Garden and The Theater at MSG, PlayStation Theatre, The Birdland Jazz Club and the newly opened Sony Hall. The venue will likely not try to compete with the more music-focused establishments, but don’t be surprised when Hagar or some of his famous friends decide to show up one night and plugin. This is New York after all.