The closing of Manhattan's in the Old City in June was just a prelude to the eventual sale of two historic properties in the neighborhood. The building that housed Manhattan's for more than 20 years and the building where Patrick Sullivan's Saloon has operated since the late '80s have both been listed for sale by the trustees who are managing the estate of the late developer Kristopher Kendrick, who died in 2009.
The Patrick Sullivan's building, at 100 N. Central Street, is listed at $875,000. The old Manhattan's building, located diagonally across from the main Old City intersection at 101 S. Central Street, is listed at $680,000.
Frank Gardner, who owns Patrick Sullivan's and owned Manhattan's for 12 years before it closed on June 26, says the potential sale of the buildings has created some confusion about the future of Patrick Sullivan's. The restaurant and bar has five years left on its existing business lease, according to Gardner.
"I just want people to be aware of the fact that Patrick Sullivan's is in business and is running fine and is going to stay there until the end of our lease at least," Gardner says. "And if we get an opportunity to renew that, we'll do it."
Gardner closed Manhattan's when his lease for the long-running restaurant/bar expired and he faced an increase in rent. He says he understands the decision but couldn't agree to it. The buildings' sale is not expected to affect the two other tenants in the old Manhattan's building, Old City Java and Imagine Action Retail Store.
The buildings are part of the Kendrick estate. Trustees are selling the properties, as they did with others in the estate like Lord Lindsey, says NAI Knoxville broker Steve Goldman. Both properties are co-listed by Goldman and Tim Duff of Coldwell Banker Commercial.
"We have several people that have called and expressed interest in it and have done tours," Goldman says of the Central Street property. "They've taken property tours, but we haven't received any offers yet."
Goldman says the Patrick Sullivan's building is essentially for investors since there's a tenant in the building, but the Manhattan's building offers more options.
"Manhattan's did so well over the years, but it could go back to being one, two, or three spaces," he says.
Built in 1900, the old Manhattan's building is 7,000 square feet. The Patrick Sullivan's building went up in 1888 and is listed at 10,384 square feet on three levels.