Source: Find Philly Real Estate Blog

Find Philly Real Estate Blog Is Center City Losing Yet Another Diner?

Paul, from Paul's Pizza, Announces He Plans to RetireLast year, the word that Little Pete's Center City location was closing made us all a little weak in the knees - like a death in the family or losing part of our childhood. Diners are just there; but when they're suddenly not it bothers us more than we'd expect. Diners are like the hardworking cousins from your dad's side of the family....They weren't there for every family dinner; but they were there for some. They were never fancy; but they did teach you how to spit when you were a kid and that was cool. Like our cousins, Philadelphia loves our diners - especially the long standing ones. Change is good - except when it comes to diners! Diners need to stay exactly how they are and stay around forever. Breakfast, lunch and dinner - diners are reliable. That's their thing. And after the bars close? Amazing! In Philadelphia the only problem we have with diners is that you usually can't get a proper Bloody Mary to nurse you through your hangover brunch. And now another popular Philadelphia diner might be closing its doors? Paul's is a hundred seat diner but it has no Bloody Marys. Plus it's only open: Monday through Saturday, 7:30 am to 3 pm. The owner Paul Bouikidis knows he owns a diner in the popular Society Hill / Washington Square West neighborhoods, and he knows it sits next to medical schools, the Liberty Bell and Independence Hall. He also knows the evening business draw of Jeweler's Row; but with five grandchildren and at retirement age he just has no interest. Besides Paul, the business is run by his wife Anastasia, and his son Guy who manages it. They opened its current location in 1976 - which had to be an interesting time to open a Philadelphia restaurant so close to the Liberty Bell and Independence hall. Starting in 1970 he opened his first places at 1336 Pine Street and then on 20th and Spruce Streets - both are recognized Philadelphia hot-spots. From his mom's spaghetti, he moved from Greece (to marry Anastasia), and learned to cook in a pizza shop. There is no question that Paul is still Greek. Even without the accent. His regulars might be like family; but famous customers? He doesn't know their names. It doesn't matter if they are the Mayor, professional ball players or well known actors..... It's a diner, and what we love about diners is that they get the food out. But It's a warm feeling place and you feel genuinely liked here. They ask you how your feeling and they listen - I mean really listen. That's something that might be missing once this building changes ownership. In 1976 they rented the current space, the restaurant occupies at 716 Sansom Street and his family has been cooking for the area ever since. As the restaurant grew they were able to purchase the entire building - just in time as rents also were increasing as the real estate prices continued to grew in Washington Square and as Jeweler's Row came into what we now know it. Now Paul and Anastasia want to go back to Greece, and retire with family. The 716 Sansom Street building is for sale and that includes the business that is being sold by Philadelphia Realtor Joe White. Its cost is $2.2 Million and includes the sub-level jeweler shop and five apartments above. Philadelphia institutions like Paul's Pizza might change from time to time; but new ones come as well. I guess we'll wait and see what comes to 716 Sansom Street.

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Est. Annual Revenue
$25-100M
Est. Employees
25-100
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