Aby Rosen is trying to lure investors into the restaurant that will replace the Four Seasons, with “outlandish” revenue projections, sources say.
Rosen, who owns the Seagram Building, is looking for 100 investors to put up $300,000 apiece, for a total of $30 million, Crain’s reported Tuesday.
But sources say Rosen had previously circulated a proposal looking for just six investors who would each put up $5 million.
“It indicates to me that Plan A didn’t work, so they went to Plan B — more people with less money,” said one insider.
In the earlier informal prospectus, Rosen projected revenues of $53 million in the first year, going up to $58 million the second year.
“These numbers are beyond preposterous,” my source said. “The Four Seasons grosses about $20 million a year now, and it’s not as if they are undercharging. The steak is already $75.”
And since the eatery’s interior is landmarked, there isn’t much the new management can change besides the furniture and the carpeting.
“Nobody needs $30 million to redo a restaurant,” said my source.
The new restaurant will be overseen by Major Food Group, which has had big hits in Manhattan with Carbone, Santina, Sadelle’s and other hot spots.
Crain’s said the new offering came in a marble box shaped like the restaurant’s iconic pool, promising investors a 120-percent return before Rosen and his partners take any proceeds, and then a 40 percent cut of the profits.
Rosen did not return calls for comment.