The oceanfront Mermaid Restaurant and surrounding prime property is back on the market after its potential buyer was not able to fund the deal, said owner and Hermosa Beach resident Diana Albergate Wednesday.
The Mermaid, whose history spans some 60 years, was owned by Albergate's stepfather Quentin L. “Boots” Thelen until he died in 2007, leaving the property to heirs, including Albergate.
The property, which includes two buildings to its north, Poop Deck and Good Stuff on the Strand restaurant, and three on Pier Plaza, Cantina Real restaurant, Pier Surf shop and Tiki Mon Creamery & Café, has reportedly been for sale since 2007.
Developer One Pier Avenue LLC was the reported buyer. Albergate announced the restaurant's closing and held a farewell of sorts the last weekend in July. In October, the restaurant re-opened Friday-Sunday nights.
Via email, Albergate told Patch, "We are again for sale and are actively seeking a new buyer." She said the Mermaid will maintain its weekend evening schedule for now.
The entire property reportedly was listed at around $24.5 million, which included $17.5 million for the property on The Strand and $7 million for the parcel on Pier Plaza.
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