Howard Goldstein

Howard Goldstein
'The New Jersey Liquor License Expert" - click on picture to go to my web site

Thursday, August 9, 2012

Appraising the value of a New Jersey Liquor License

I was asked the following question:  How are  your appraisals validated?

This was my answer:

The REAL problem is that the NJ liquor license transactions are NOT recorded anywhere, so true validation in the sense of a real property is impossible. I would say truthfully that mine is NOT a validated appraisal but rather a snapshot of  the collection of data and information which I have on file and recent transactions in and around the town I am appraising.

In other words, take Livingston. A license has not traded there in  4 years. One has sold in Millburn for $750,000 last year. One has sold in East Hanover for $450,000, 18 months ago.

The last one in Livingston 5 years ago traded for $800,000. Currently two are on the market for $600,000.

My valuations would be based on the sales in adjacent towns, and the fact that there are two unsold licenses in Livingston.

It is more of an estimate than a "validated" transaction based on comps for adjacent real estate.

Unlike real estate transactions, the value of liquor license transactions is only known to the participants.

I can help identify the value of New Jersey liquor licenses.

Over the last 20 years, I have built a data base of transactions consummated in many of the 566 towns in New Jersey.

If you may need an value for a New Jersey liquor license, I can help.

Towns do not have sales data for any sales or, other times, the licenses were sold as part of a restaurant transaction. My data base is full of research which identifies comparable sales in neighboring towns with similar demographics and other critical data points to accurately establish New Jersey liquor license values.

Call me to discuss your specific needs


Call me at 908-403-2718 or email me at

The New Jersey Liquor License Guru, Howard Goldstein