Home News Frank Bonanno becomes own landlord with $8.6M buy in Denver’s Capitol Hill neighborhood

Frank Bonanno becomes own landlord with $8.6M buy in Denver’s Capitol Hill neighborhood

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Twenty-two years ago restaurateur Frank Bonanno opened Mizuna near the corner of Seventh and Grant on Cap Hill. Since then he has added three more restaurants next to it.

All the while he was discussing the possibility of buying the property with his landlord.

“We’ve been making offers every few years, maybe every time we renew our lease,” says Bonanno.

Hal Nyman, president of Sherman Agency, which is part of the Ownership Group, said: “He sure asked more than six times and it was always the same answer. Ownership has no plans to sell.” .

But that has changed recently. On September 16th, the owner of Bonanno Concepts purchased his three adjacent buildings that house Mizuna, Ruka, and Loose Food his bar and Vesper Lounge. Public records show that he paid his $8.6 million for the property. The property also includes a half acre of parking on the north side.

Naiman said he received an offer from a developer and gave Bonanno a virtual chance to accept it.

“They had numbers in mind,” said Bonanno. “They didn’t budge and we were able to meet their numbers. Very little negotiation took place.”

Naiman said the Naiman family and partners have owned the property for 60 years.

Last February, the group applied to the city for a certificate of fitness for demolition. This will allow for easy demolition of structures on site within five years. Notices of the application were posted in the windows of Bonanno’s restaurants, encouraging neighbors to consider promoting conservation. Naiman eventually withdrew his request in April 2021.

“I was told that most developers had to go through that process if they were going to sell it, and I recommended going through that,” says Naiman. “But we started going through it and kind of went through it without knowing the process.”

Frank Bonanno has purchased the property that houses his four concepts Lou’s Food Bar, Vesper Lounge, Mizuna and Luca on the corner of 7th and Grant in Cap Hill. (BusinessDen file)

Bonanno’s restaurant is located in the area of ​​Cap Hill known as Governor’s Park, recently purchased by a condominium developer for a large complex. One block is under construction where the Racines restaurant used to be. Another is planned for the block occupied by television station Denver7, which plans to relocate to RiNo.

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