Food News
The owners of Pi Pizzeria are retiring after 25 years, putting the beloved Nantucket restaurant, its commercial properties and employee housing on the market.
Pizzeria Courtesy of Courtney Cotter of J. Pepper Frazier Real Estate
After 25 years, iconic Nantucket restaurant Pi Pizzeria is for sale for $12.5 million, as first reported in 2016. Nantucket Stream.
“With all of me“ — The restaurant at 11 West Creek Road and employee housing at 41.5 Nobader Farm Road — are for sale as owners Ivan and Maria Marley are preparing to retire.
“We thoroughly enjoyed the time we spent building the brand,” Evan said in an interview with Boston.com. It was truly a “dream”.
The restaurant consists of a 46-seat dining room and bar with a separate entrance for take-out which also serves as a mini Italian market. The commercial property also includes a wood-fired pizza oven, storage, basement office space and parking for 20 spaces. The employee house, common in Nantucket companies, has three bedrooms, three bathrooms and six parking spaces.
“We’re interested in a buyer who wants to take Pi forward,” Maria said, and perhaps expand to more locations. Overall, “we are looking for a buyer who will continue the tradition of what we have created,” Evan said.
The Marleys have no plan to close the restaurant before selling. Pi Pizzeria is hiring for three open positions, according to Supports It was submitted to the restaurant’s Instagram on Thursday.
When they find a buyer, Evan plans to stay on temporarily as a way to “pass the torch” and ensure a smooth transition of ownership, he added.
Pi Pizzeria “has been an institution on the island for a long time,” Marley Realtor Courtney Cotter said. Current.
The Marleys, who have worked in the restaurant industry all their lives, opened a Neapolitan-style pizzeria in 2001 in the back of a cheese and wine shop. Fahey and FromagerieBefore moving to its current location in 2006.
On their first day at the new location, the Marleys had to close an hour and a half after opening because of how much they were “criticized,” which Maria considers her favorite memory from her 25 years in business.
Evan said it was “awesome to start something of our own and run it so well” for 25 years.
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