NATHANS FAMOUS INC
For the period ended Mar 31, 2024. Filed Jun 12, 2024.
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FY2024 · Filed Jun 12, 2024
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Item 2. Properties
We currently lease approximately 9,300 square feet of space for our executive offices in Jericho, New York for approximately $396,000 per year, under a lease agreement which expires on March 31, 2029.
At March 31, 2024, other Company-owned restaurants that were operating were located in leased space with terms expiring as shown in the following table:
| Nathan’s Restaurants | Location | Current Lease Expiration Date | Approximate Square Footage |
|---|---|---|---|
| Coney Island | Brooklyn, NY | December 2027 | 10,000 |
| Coney Island Boardwalk (a) | Brooklyn, NY | November 2028 | 3,800 |
| Long Beach Road | Oceanside, NY | April 2030 | 4,100 |
| Central Park Avenue | Yonkers, NY | December 2028 | 3,500 |
| (a) | Seasonal satellite location. |
At March 31, 2024, in addition to the leases listed above, we were the sub-lessor of one property to a franchisee located within the metropolitan New York area.
Aggregate rental expense, net of sublease income, under all current leases amounted to $1,686,000 in fiscal 2024.
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