Well, here's some news that may (or may not!) cause our blogging friend Alex at Flaming Pablum to punch a few walls.
The Real Deal's Amy Tennery reports that the 2,295-square-foot retail condo unit and former home of the Cedar Tavern (RIP, 2006) has sold for $1.5 million.
Per the article:
The unit, located on the bottom floor of 82 University Place, a seven-unit condominium on the corner of 11th Street, was sold by Michael Diliberto, the building's developer and former owner of Cedar Tavern, which counted Jackson Pollock and Jack Kerouac among its patrons during its roughly 40-year tenure.
The sale came under major duress from lender Flushing Savings Bank, according to Kevin Salmon, a partner at the firm who helped broker the deal. After almost five months on the market, the unit sold to property owner Ascot Properties for $1 million less than its original asking price.
And a sale doesn't mean a Cedar Tavern revival. According to the article, there are restrictions specifically blocking a bar or restaurant from opening here.
As Alex wrote last month: "The fact that it's still an ugly, empty shell of a yanwsomely utilitarian workspace in the wake of it replacing a beloved neighborhood institution is still an untrammeled insult."
Oh, and here's another Austin, Texas/SXSW connection for you. As Grub Street reported, the owner sold the Cedar Tavern's bar to some nightlife types in Austin.