Central Park Boathouse To Reopen After Inking 10 yr $11M Deal with Legends

The beloved Central Park boathouse is soon to reopen to the public under new management.

Legends Hospitality, which already operates several other iconic spots around the city inked a ten year deal to pay the city $750,000 a year and inject another $3.25 million in capital investments plus an additional $250,000 in structural improvements.

Former owner Dean J. Poll closed down the boathouse last fall after a mystery billionaire backer who was purportedly going to inject $6 million to save it never materialized. Poll stated that his decision to close down was unrelated to the pandemic, but rather due to rising costs of labor and goods.

Under the new deal, if the Franchise & Concession Review Committee approves Legends application as expected, the boathouse will open its doors this summer.

The restaurant initially opened over 150 years ago, located on the shore of the 72nd Street Lake inside Central Park. It is known for its idyllic lake view and the rowboats that can be rented from the nearby docks.

“The Central Park Boathouse has been a landmark for generations of New Yorkers,” said Mayor Eric Adams. “When it closed last year, many worried about its future, but our administration moved quickly to keep this piece of New York City history alive. Thanks to the fast work of NYC Parks, we’ve selected a new operator so the Boathouse can come back better than ever, ensuring tourists and New Yorkers alike can enjoy this beautiful space and scenery once again.”

“The Central Park Boathouse is a treasured space not only for the Manhattan community but everyone living in and visiting the city. It’s a beautiful building that has created countless memories for its visitors,” said Deputy Mayor for Operations Meera Joshi.

Legends Hospitality, which is committing to spend $11 million over the ten years, also operates many other iconic city attractions including Yankee Stadium, the Intrepid, the Circle Line, and the Oculus Beer Garden. In addition to the $7.5 million ten-year lease and $3.25 million capital investment into The Loeb Boathouse, Legends agreed to an additional $250,000 for structural maintenance improvements which will include renovating and expanding the restrooms and connecting and improving the patios.

“I’m happy that New Yorkers and visitors from around the globe will once again enjoy the restaurant and boating at this iconic spot,” said New York City Councilmember Gale Brewer. “Better still, the new operator agreed to retain the union workers at the Boathouse and preserve their contract, which is huge.”