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Avellino’s NY Style Pizzeria & Bar has closed its Decatur doors despite its lease not being up for renewal until December 2023, according to a listing with The Shumacher Group, the firm selling the restaurant’s assets on behalf of Owner Luigi DiRienzo.
DiRienzo recently closed Avellino’s “to focus on other business as he was spreading himself too thin,” the listing states. Avellino’s is still open and operating out of its Brookhaven outpost.
The Avellino’s space, including its assets and lease, is for sale at an asking price of $95,000. A new owner could keep the pizzeria in place or convert to virtually any other concept with the exception of a doughnut or Mexican joint because of neighboring tenants Revolution Doughnuts and the incoming concept from the owner of El Tesoro set to replace Lawrence’s Cafe, according to the listing. “The landlord will not permit any late-night clubs, loud music venues,s or hookah lounges due to the residential location.”
The business name, trademarks, and recipes are not included in the sale.
DiRienzo has operated the pizzeria, at 902 W College Ave #3506, since 2008. The restaurant made a net profit of $186, 207.14 in 2021 from gross sales of 637,035.33. Rent is $3,500 per month, all in.