Pane e Vino Ristorante owner will be taking the location on Atwells which previously housed the Mediterraneo for nearly two decades, GoLocalProv has exclusively learned.
Joseph DeQuattro’s award winning Pane e Vino owner will open a restaurant at the gateway location to Federal Hill.
The building and two adjacent properties sold for over $1.75 million and the restaurant alone sold for $1,425 million -- one of the highest prices in RI for a restaurant in the past few years. According to mulitple sources close to the deal, DeQuattro will lease the space from the new owners of the building. The value of the entire deal was $2.2 million.
As GoLocal was first to report last Saturday, The Marrocco Group announced that its restaurant Mediterraneo a fixture on Federal Hill was closing.
In a statement to GoLocal issued tonight:
"Determination, sacrifice, superior service and food have helped shape the success for 18 years at Mediterraneo," said Rick Simone spokeperson for the Marracco group.
"The sale of Mediterraneo and the associated properties was truly and offer Mr Marracco could not refuse. This will certainly be recorded as one the larger restaurant transactions on Federal Hill.
With the closing of the sale complete I look forward to the opening of the Biergarten and the enhancements we can accomplish at Caffe Dolce Vita," said Gianfranco Marracco
Outstanding Mediterraneo gift certificates will be honored by the new owner.
Mediterraneo was long known for celebrity guests and creative offerings, atmosphere and award winning service will close at 11 pm on Saturday after traditional dinner service.
Gianfranco Marrocco on behalf of the The Marrocco Group said he “has received an offer he could not refuse” which includes the real estate sale of the building and two abutting residential houses.
Mediterraneo has been for sale along with a couple of surrounding buildings over the past year.
Pane e Vino which was founded in 2002 is about classic Italian food, “I knew that its foundation had to be all about hospitality and comfort food…….the foods that I grew up with. Fresh, simple & honest,” says DeQuattro about his restaurant exisitng location on Atwells.
“With the assistance of some amazingly talented and dedicated people I have created one of Providence’s most accomplished and celebrated restaurants. I am a second generation Italian American born in Providence, Rhode Island. When I first introduced Pane e Vino in 2002 I knew that its foundation had to be all about hospitality and comfort food…….the foods that I grew up with,” according to the restaurant’s website.
Related Slideshow: Providence Area Restaurants That Are Sadly Gone
Restaurants have come and gone for years in the state's Capital City, and here are just a few of the most recent ones in Providence that are no longer.
Eddie and Son Diner, the long-standing Providence institution, shut their doors for good back in 2013, after nearly 70 years of serving customers.
The famed diner saw many illustrious faces over the years, from Matt Lauer during his Channel 10 days, when the diner was on Pine Street, to multiple generations of Rhode Island ruling elite, from John Chafee to Linc, and J. Joseph Garrahy to son John.
A casual Irish pub that was good for watching sporting events, trivia night, brews, and cocktails, the establishment closed in 2014, marking another turnover in the popular -- but up-and-down - Union Station area downtown.
An upscale steakhouse chain with various locations around the country, the downtown Providence location known for its expansive patio overlooking Waterplae Park - bowed out in 2014.
But steak lovers fear not, the Capital Grille will soon be settling in its new location there when it moves across the street -- if the the new signage is any indication, that should be any day now.
The onetime downtown landmark known for its drag brunches and hefty cocktails, which was a favorite among patrons gay and straight, closed down in 2011, after gaining fame on Gordon Ramsey's Kitchen Nightmares.
McFaddens, which closed in 2012, was a popular spot to catch a game, with a plethora of TVs - and a late night college-kid haunt for its DJ and dance floor.
Now Hanley's Ale House, it the bar hasn't lost much of its beer-loving roots -- and it continues to be a mainstay in the Providence social scene.
A small, intimate restaurant and bar, Tini was best known for its snack sized items on the menu and having their own way of preparing traditional meals.
The Cuban Revolution had a number of iterations in its lifetime in Providence, from several locations downtown, and in Olneyville, before they fell by the wayside.
Those close of the downtown location led to their placement on GoLocal's not hot list by Dan Lawlor in 2013, for the following:
The Westminster developer and the Cuban Revolution restaurateur have both done good for the city. Too bad they couldn't come to an agreement on Cuban Revolution's downcity location. Morabito choose to close suddenly and left for Olneyville. Chace has an open storefront. Not a great week for either.
The popular -- and contentious -- Federal Hill nightlife spot lasted only several months in 2014, after making a big splash on the scene -- clearly rocking some boats in the process.
After announcing in June 2014 that it would be opening with all drinks, beers, wines, and food items price at $3, bard was the scene to several episodes of violence at the location, prompting the licensing board to revoke its liquor license last August - and owner Gianfranco Moracco railed against the establishment in an unsuccessful effort to save it.
Sadly, the owners announced it closed at the beginning of 2014. "Sadly, Ljs is now out of business," they wrote on January 20 of that year. "Thank you for having supported us in better times."