Former ‘Rachel’ Building and Restaurant Space in Riverside Scheduled for Auction

| August 15, 2018 | 0 Comments

Rachel New American Cuisine at 554 E. Fort Ave. in Federal Hill/Riverside closed in May 2018. Now, the 3,792 sq. ft. three-story building and restaurant space, along with its furniture, equipment, and seven-day beer, wine, and liquor license, are scheduled for a September 7th Alex Cooper auction. The opening bid is $350,000 with an initial deposit of $15,000.

The building features a first-floor bar and dining room, a large second-floor kitchen and dining room, and a third-story office space. The property was renovated before the opening of Rachel in January 2017.

All of the assets in the sale are now owned by the landlord, not by any of the previous restaurant operators. Since the mid-2000s, the location has been the home of Soigné, Sly Fox Pub, Ullswater, Tuscan Fresh, Breadbangers, and Rachel.

The restaurant space is also currently available for lease.

This auction is the latest news of recently-closed, high-end restaurants beginning to take on new ownership. The former Bluegrass will become AJ’s on Hanover, led by the team of Andrew Carter and Jesse Selke of Delia Foley’s and Smaltimore; Wine Market Bistro closed and was rebranded as Ludlow Market, Bar & Bottle Shop by owner Chris Span; the former Regi’s Bistro was purchased by Greenspring Realty Parnters at auction; the former In Bloom/Liv2Eat and its building are currently currently under contract and undergoing a study period contingency; and the former Metropolitan business is currently listed for sale.

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