The owner of Hop Sing Laundromat has been hoarding rare booze. Now, he’s selling it by the pour — at bargain prices
“I’ve been collecting these bottles for years,” Lê said. “At some point, it’s time to let them go.”
Hop Sing Laundromat has never been laid-back.
For nearly 14 years, the speakeasy-style Chinatown cocktail bar has operated under the authority of its enigmatic owner, who goes by Lê, and his house rules, which are as well known as the drinks: No photos. No cell phones. No flip-flops, sandals, or shorts. Cash only. Entry begins at the metal gate on Race Street, where aspiring customers hand over their photo IDs, which are scanned before they are allowed inside.
» READ MORE: Philly's top cocktail bars
Those on Lê’s banned list — the 6,600 people he’s barred for breaking rules or tipping poorly — are turned away.
The payoff for entry is a table in Hop Sing’s Old World library setting, where one can order cocktails made with fresh mixers and high-end liquor.
As Hop Sing expands its Friday and Saturday schedule to include Thursdays starting next week, Lê wants to begin moving his inventory of high-end spirits — particularly tequilas and American and Japanese whiskies — at below-market prices.
Regulars know about this list, which includes about 30 whiskies and 20 tequilas, typically offered neat or on the rocks in 2-ounce pours.
They also know that Lê is a bit of a hoarder.
One example: Old Overholt 11-year-old rye, a limited-release bottle that Bourbon Culture gave an 8.5/10 (“a flavorful sipper that is all about balance”).
You cannot get it anywhere else in Pennsylvania because Lê effectively bought out the state’s remaining supply of the whiskey several years ago — all 835 bottles at $75 each.
Michael Betman, a sales manager for Suntory Global Spirits, said Lê first bought 10 cases and then asked how much was left. “Once he realized how limited it was, he said, ‘I want all of it,’” Betman said.
Betman called the Pennsylvania Liquor Control Board to request the bottles. “They were stunned,” Betman said. “But they made it happen.”
The PLCB gathered bottles from stores all across Pennsylvania and delivered them to Hop Sing. “At first people thought Lê might be joking,” Betman said. “But he was completely serious.”
Hop Sing is going through its supply. Lê declined to specify how much he had left, but given the bar’s limited hours, it’s likely a lot.
Bottle math
At Hop Sing, Lê charges $18 for 2 ounces of the Old Overholt. Although $18 sounds expensive, it’s modest by industry standards.
A 750-milliliter bottle yields about 12 pours. Multiply $18 times 12, and each $75 bottle grosses about $216 — a 188% markup before accounting for labor, breakage, overhead, overpours, and comps. Many bars aim for 200% to 300% markups, often while pouring 1½ ounces instead of 2.
Lê said he was happy with this math, which extends to his cocktail list. (An old fashioned made with 2 ounces of Booker’s straight bourbon, for example, is priced at $20 — a relative bargain for a bottle that retails for $100.)
This approach comes from a bar owner who no longer drinks. Lê said he tastes cocktails during development but hasn’t had a full one in 15 years.
“This isn’t about me drinking it,” he said. “It’s about letting people experience it.”
That philosophy shows up across the pour list. Among the tequilas, there’s a 2014 Herradura Reposado Scotch Cask at $35 and Casa Dragones at $45. On the whiskey side, Yamazaki 12-year is $35. Knob Creek 18 is $35. Elijah Craig 18 is $42. Hibiki 21 and Yamazaki 18 — which have become scarce amid the Japanese whiskey boom — are $100 per pour. While $100 may seem way out of kilter, consider that the Hibiki and Yamazaki bottles retail for $750 — and Hop Sing has rows of them on its top shelf.
Many of these bottles now circulate almost entirely through secondary markets, where prices can climb multiple times above retail.
Lê said the goal is to pour whiskies that people read about but rarely see, without turning curiosity into a financial stunt.
“I’ve been collecting these bottles for years,” Lê said. “At some point, it’s time to let them go.”
Hop Sing Laundromat, 1029 Race St. Hours: 5 p.m. to 1 a.m. Friday and Saturday. Thursday hours, also 5 p.m. to 1 a.m., begin on Feb. 19. No reservations, cash only.