The B-Side Lives?

Posted on Posted in B-Side Lounge, Cambridge, Daniel Lanigan

Rumors have been swirling around the future of the B-Side Lounge since it closed on November 2, 2008. Some said it would be razed to build condos, others said it would remain vacant, and Daniel Lanigan, owner of The Moan and Dove of Amherst and formerly of The Dirty Truth of Northampton, said his months long battle to take over the place would come to fruition after his initial attempts to secure the property fell through. Despite the naysayers, and I have been a skeptic at times, Lanigan appears to have pulled it off.

With liabilities listed as being between $500,000 and $1 million, The B-Side’s property fell into foreclosure. Unable to meet the debt and tax demands, the leaseholder, Northbound Train, Inc., filed for bankruptcy in November and the property closed. After winding its way through the Chapter 7 process, Federal Bankruptcy Court Judge Joan N Feeney ordered that the property be put to auction. The auction lot included “the right, title and interest to a City of Cambridge 7-Day 2 AM all Alcoholic beverage license, the current lease interest, equipment and fixtures of a bar, kitchen and dining area including but not limited to upholstered booths and tables, stools, beer coolers, ref base units, ss sinks, tables, ss hood, double oven, fryer, char grille, ss salad units & numerous pots, pans and smallwares.?

At the auction, which was held yesterday, potential bidders were required to bring a deposit in the amount of $30,000 to bid on the license, $10,000 for the lease, and $2,500 for the equipment or a $40,000.00 deposit for the entire lot. The property was sold subject to the landlord’s reservation of rights on the lease. The property’s owner is Chris Schelsinger (through Southbound Realty Trust), founder of the East Coast Grill, Jake and Earl’s Dixie BBQ, and The Blue Room.

According to a post on BeerAdvocate, Lanigan was the purported winner of the auction and now can assume the B-Side’s lease, which requires about $3300 a month in rent. Lanigan is reportedly going to continue The B-Side’s much heralded dedication to cocktails and spirits as well as revamping the bar’s beer program. No word on what the new venture will be called.

Please follow and like us:

One thought on “The B-Side Lives?

Leave a Reply

Your email address will not be published. Required fields are marked *