Downtown Raleigh LGBTQ club Legends sells property for $4.3 million
The site of the Legends bar and nightclub in Raleigh was sold for $4.3 million last week to a local, commercial real estate firm interested in owning downtown properties as they grow in value.
The popular LGTBQ nightlife destination of the Triangle has been located at the corner of West Hargett and South Harrington streets since 1991, before the area became known as the Warehouse District.
No immediate changes are planned for the property, according to new owner CityPlat.
“We’re excited to have the opportunity to have a piece of property in that location,” Vincenzo Verdino, a principal at CityPlat, told The News & Observer.
“Nothing at all will be changing overnight at Legends,” he said. “They will remain there, and we are excited to have the opportunity to figure out what does make the most sense for that site and we know that the location will only increase in value.“
The firm began talks with owners last year, Verdino said.
The one-story Legends complex, which includes View Bar & Gameroom is located at 330 W. Hargett St. and 119 S. Harrington St. across from Weaver Street Market and The Dillon, a large retail, restaurant and residential development. The Dillon was sold last month for $236 million by its developer, Kane Realty Corp., The N&O reported.
The site is currently zoned by the city for mixed-use developments up to 12 stories tall.
“Where we’re looking at [the market] is in the five- to 10-years outlook,” said Verdino. “We are extremely bullish on downtown. This site is right in the heart of a pocket of downtown, and it’s really exciting what’s happening there with rezonings and potential projects.”
Legends closed from the spring through late summer before reopening under COVID-19 restrictions at 30% capacity.
“The deal with CityPlat ensures the long-term survival of Legends as an on-going business and an opportunity to collaborate for future development,” said Tim Bivens, one of the club’s owners, in an email. “We are coming up on our 30 year anniversary and plan to be around for another 30. Once COVID restrictions are lifted, we look forward to welcoming our patrons back and a return to normal operations.”
Bivens said that plans for a partner for future redevelopment began before the pandemic and that the sale wasn’t a result of it.
Nearby projects under construction include the 20-story Raleigh Crossing high-rise on Hillsborough Street and a sister 10-story tower to the One Glenwood office and retail building on Glenwood Avenue.
This story was originally published December 1, 2020 at 2:42 PM with the headline "Downtown Raleigh LGBTQ club Legends sells property for $4.3 million."
