A Quiet Sale: Downtown SF Hot Pot, Closed in 95 Days
Lease assignment was the bottleneck. We worked the landlord from week one.
The challenge
The seller had a 4-year remaining lease and a landlord who was historically slow to approve assignments — past tenants had lost deals over it. The seller also needed to keep the sale completely confidential because two key managers had been there 8 years and would likely walk if they heard 'for sale.'
What we did
We contacted the landlord in week one — before listing — and negotiated the assignment terms in writing. By the time we had a qualified buyer (pre-screened: SBA-approved + previous hot pot operator), the landlord side was 80% done. We coordinated all site visits during off-hours (Mondays when closed). The managers never learned the restaurant was for sale until the new owner introduced themselves on transition day.
The outcome
Closed at $485K (95% of asking). Lease assigned with terms identical to original. Both managers retained at higher pay under the new owner. Total timeline: 95 days from confidential listing to keys handover.
Ivy understood my P&L the same way I did — line by line. The fact that my whole staff stayed and never panicked is what I'll remember.— Former owner
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