The Backstretch property on the market

The Building at 38 Caroline Street formerly known as The Backstretch, It's Confidential, The Artisan, Madame Jumel's, and a few other names, was officially listed in the past few weeks on the real estate market by Leman Realty for $795,000. 

 

The Backstretch location is not the only restaurant in that block of Caroline Street that is for sale.  As previously reported, Sperry's Restaurant, which is right next door, has been for sale since earlier this year.

I think The Backstretch property, with the large outdoor patio space, has a ton of potential.  I hope the right owner, with a great vision and sufficient financing of course, comes along soon.  Yes the economy is not exactly producing willing restaurant investors these days, but with Global Foundries continuing its progress in nearby Malta, along with the expected spinoff businesses and resulting population increases, many investors may find themselves in just a few short years kicking themselves for not buying property in downtown Saratoga when the prices were as low as they are now.  Sure the economy is suffering, but if the right people would only see the opportunity and take the leap, they may be well positioned in a short while when the economy, or at least the Saratoga region, comes back strong. 

Comments

[the madame's heir]

good morning,
this whole global foundries thing has to be looked at realisticly- a person getting off-shift in Malta will have to pass 900 places to eat and drink before they get to this place - what makes you think that they are going to make it a destination?

I agree the place has potential; but the whole outdoor area needs to be re-conceptualized; the upper bar has no cover (remember how much it rained?) the lower bar is in a hole whereby if you are under 6'5" it's hard for you to serve people + the patrons also get wet on their way to/from that bar. The tent itself (now gone - repo-ed??)needs to be placed so that it properly covers the stage; the way the old owners had placed it the stage was soaked, along with the electrical outlets, in 15 minutes. So an entire "coverage scenario" has to be looked at, of course if you are (allegedly) bouncing 5-figure checks it's hard to get anything done.

The inside building is better, and workable but it would be MUCH better if someone would insulate the patio in the back so that it could be used year-round.

Overall, this place is not the wonderful property an outsider might think. Several people have tried to make it work; and while in some cases their egos and potential criminality were their downfall it would cause anybody who is familiar with the property's history, e.g.:
- Madame Jumel's
- Hurricane Sam's
- The Artisan
- It's Confidential
- Backstretch
to take pause before sinking more money into it. Not to say that someone won't try-- probably somebody from out of town or from the city with some grand 'vision' as to how they are going to change the local economy. sure.

[Dan]

First of all thank you for such an in depth commentary. My point on Global Foundries is that I feel it will lift up the whole region and will have many spinoff effects, right down to the service industries such as restaurants. I believe Saratoga Springs will be a huge attraction for these new workers (both GF and spinoff) to live here and many more will live in Saratoga's "suburbs" such as Wilton, Malta, Milton etc. and therefore come into the city for entertainment. I see that as only having a positive effect on the restaurants, especially during the slow months. All in all Saratoga Springs will become even more of a destination for those wishing to live here or be entertained here.

I can't argue with your points on the property itself. I do recall, however, in the summer of 2006 when it was The Artisan, humongous crowds on the weekends during track season. Yes that's only 6 weeks, but the city seems filled with people from Memorial Day on through Labor Day, so if a place can just offer something the rest of the year (The Franklin Micare gigs on Friday nights at The Backstretch this past summer were packed) then it can work. Just my thoughts. Take care.