12/02/08

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Top dog Lorber steps up from hot dogs

Howard Lorber

Howard Lorber is stepping up from hot dogs to finer dining — think orange miso-glazed monkfish, or Long Island duckling with vanilla sweet potatoes.

The chairman of brokerage Prudential Douglas Elliman, who also serves in the same role for the hot dog chain Nathan's Famous, is purchasing the fashionable Southampton restaurant Savanna's, which lists the above items on its contemporary American menu.

In late May, the New York Post reported that Lorber bought Savanna's from the estate of the late business mogul Howard Gittis and planned to hand the reins of the restaurant over to Manhattan restaurateur Tony Fortuna to run a steakhouse called TBar at Savanna's.

But Lorber, who purchased the land where Savanna's sits in early June, told The Real Deal that he has no plans to transform the restaurant this season. "It's a great place that has been around for 14 years," he said. "I see no reason to change it."

Plus, Lorber said, he doesn't technically own the restaurant yet. He said Savanna's is still under the management of Gittis' estate because the purchase took place too close to the beginning of the season to change the name on the liquor license.

As for next year, Lorber, who owns a home in Southampton, said he would wait and see whether it makes sense to revamp the establishment.

But a full house at Savanna's opening on June 14 confirmed the idea that no changes needed to be made. "They've been packed without doing any advertising," he said.

Lorber said he first learned that Savanna's was available through his dealings with the Gittis estate. Prudential Douglas Elliman is representing Gittis's 15-acre summer compound on Ox Pasture Road in Southampton, which is listed at $59 million.

He said his primary interest in Savanna's was the real estate, but added that he wanted to be involved in the restaurant because he and Gittis were friends. Lorber declined to say how much he purchased Savanna's for, saying the Gittis estate asked him not to reveal the price.

The purchase marks his first venture into fine dining, although he has been involved with Nathan's since 1987. He is former CEO of the company and currently serves as chairman of the board of directors.

When asked if Savanna's could become a magnet for real estate types, Lorber said he hopes that will be the case.