Tech entrepreneur who loves quirky real estate pays $ 2 million for Mercury Cafe



This week, Danny Newman, his wife Christie Kruzik and Austin Geyer bought the Mercury Café and its 9,870-square-foot building on 22nd and California Streets. (Lily O’Neill photos)

Danny Newman wants to do the same with Mercury Cafe as he did with My Brother’s Bar.


For the second time since 2017, a tech entrepreneur with a penchant for quirky real estate acquired a renowned local restaurant with a long history, promising that everything will be basically the way it used to be.

“It will continue to be a place for creative people to hang out, perform or meet, and enjoy music, poetry and delicious local organic food,” Newman said of the Mercury Cafe.

Newman, his wife Christie Kruzik and Austin Geyer, with whom Newman founded tech companies, bought the restaurant and its 9,870-square-foot building on 22nd and California Streets this week.

The sale price was $ 2.07 million, according to Pinnacle Real Estate Advisors, whose brokers Jason McClanahan and Dallas Sandberg represented the seller.

According to the restaurant’s website, Marilyn Megenity opened the Mercury Cafe in 1975 in Indian Hills. She moved to its current location in 1990, paying $ 157,000 for the building, records show.

When the property entered the market earlier this year, Megenity said the Denver Post she hoped to sell to someone who would keep the restaurant running, although the listing also said the property had renovation potential.

“I’m 70,” Megenity said in March. “A month ago, someone who knew nothing about Mercury suddenly proposed to me. I don’t want to sell it to someone who doesn’t love him and wants him to stay the same. ”

Newman said he learned of the opportunity from media coverage of the listing and reached out to him. While the 40-year-old admitted that he hasn’t been to the restaurant often in recent years, he said he was a kind of regular back in the 1990s when he was at the Denver School of the Arts.

“It was the coolest place you could go, of course as a high school student, but also as a high school student,” Newman said, recalling poetry slams, swing dancing and concerts by bands like No Doubt.

Newman said Megenity has been advising the company for a while to ease the transition.

Newman and Geyer co-founded location-based advertising company Roximity, which was acquired in 2016 and are now working on Good Call. Together they own another property at 2936 Larimer St.

But Newman himself has acquired an unusual portfolio of local real estate over the years, including former auto repair shop at West Colfax, two former churches at Barnum and Cap Hill and upper floors Clock Tower on 16th Street.… His purchase of My Brother’s Bar in 2017. was only on TV show – business real estate was also placed on 15th Street and Platte.

Newman’s wife once said magazine 5280 that in his wedding vows he “made me agree to live in strange buildings for the rest of my life.”

“I’ve always been very attracted to interesting, one-of-a-kind spaces,” Newman told BusinessDen.


Source link