Running a business is challenging these days. Running a woman-owned business could be even more challenging. So how about running multiple woman-owned businesses? A daunting task for some, a day’s work for Cove Lounge’s Alyah Horsford-Sidberry.
Real estate is Horsford-Sidberry’s primary business and her restaurant, Cove Lounge, located a stone’s throw away from the old Lenox Lounge and practically across the street from another Harlem staple, Sylvia’s, is turning 2, so she has reason to celebrate.
On the verge of celebrating, BlackEnterprise.com spoke with Horsford-Sidberryabout her many years in the real estate business, her Harlem eatery, and why she continues doing business in one of the epicenters of black culture and commerce.
BlackEnterprise.com: You are one of the few black female owners of restaurants/lounges in Harlem, what are your thoughts on that and do you think that number will increase anytime soon?
Alyah Horsford-Sidberry: As a small business owner in Harlem, a challenge which can put you out of business or prevent you from starting is your lease options. Commercial rents have gone up considerably in Harlem. I don’t see the number increasing in a large scale due to the limited available commercial space and the price point. However, those with strong financial backing or property owners will have the most success. However, Harlem has a fair share of female restauranteurs, some of longstanding, others relative newcomers. There is Sylvia’s, the Queen of Soul Food; Melba’s; Norma Darden’s of Spoonbread; and Settepani’s owner Leah Abraham.
You are part-owner of Horsford & Poteat Realty, a real estate company based in New York, what made you decide to make the jump from real estate to the restaurant business and how has the transition been?
We dissolved Horsford and Poteat, a Harlem based real estate sales, rental and management company, after 15 years because of conflicting visions about how to grow the business. However, my brother Robert and I are still partners in our new business, the Horsford Group, which continues our grandfather Victor Horsford’s legacy. He was a Harlem businessman.
The decision to expand into another industry originated from my love for hosting parties and
the lack of lounge establishments in my community. Therefore, when the opportunity presented itself in a commercial building I owned, forming Cove Lounge was an easy decision. The transition has demanded an enormous amount of my time. However, as Cove Lounge prepares to celebrate its second year, the laborious process of learning a new industry has eased.Why did you decide to have a career in real estate?
My grandfather, Victor Horsford, taught me and my brother the business, early in our childhood. A work ethic man, he pressed us into service in his real estate office where we learned all facets of the business – ownership and management of 15 buildings. He loved helping the community. In his 80s, he’d routinely visit most of the buildings, bleeding boilers, shoveling snow, and talking with tenants. Real estate is in my DNA.
Tell us about the Cove Lounge as far as the type of cuisine served, atmosphere, and the overall experience one can expect when visiting the establishment.
You can experience traditional soul food with a
Caribbean island twist. The Cove-inspired cocktails complemented by its sensual ambiance and upscale aesthetic. Cove Lounge customers know that it is the edgy destination for business meetings, birthdays, weddings, holiday parties, film shoots or just hanging out on the weekend.Since your businesses are based in Harlem (as well as you being a Harlem resident), why do you think people are more interested in Harlem now than in previous years?
Harlem’s a prime Manhattan location, centrally located, accessible to public transportation, the major airports, the financial district, midtown, and major interstate highways. Harlem is the location which boasts an influx of national retailers and countless new businesses; nonstop real estate development and conversions with both affordable and luxury housing; and a place of never-ending possibilities, especially along its major commercial strip, 125 Street, which has its own BID Business Improvement District. Harlem is the second or third most popular tourist destination in Manhattan. This is Harlem’s second renaissance.
What drives you to go to work daily?
The love of what I do, it encourages others to achieve their goals, and desire to create a legacy for my children to build on if they so chose.
What have you learned in the real estate business that has helped you in the restaurant venture?
Building solid relationships with your staff and customers is an important piece to your success. Owning the business venue is imperative.
Do you have a business motto that you live by?
“Faith + work = success”
If you could go back in time and make an alternate business decision, what would it be and why?
I would have bought more commercial real estate in Harlem so that I would be in a position to help some longtime small businesses remain in our community.
Tell us something that few people know about you that you would want them to know.
I have a passion for acting and have studied it for four years. A few of my credits include Off Broadway productions of “Cheaters,” “Same Time,” “Next Year,” and a lead role in the indie movie “Deep Trouble.”