Posts Tagged ‘foreclosure’

What’s going on here, Luna Park?

July 21st, 2015

Luna Park foreclosure Luna Park foreclosure

At some point in the last couple of weeks Valencia St.’s Luna Park shut its doors and stopped answering their phone. But that’s not all: two official notices (see above) appeared taped to the building. One is an order of abatement regarding building codes, the other is a notice that the building is in danger of foreclosure. According to the later document the owner of the building is behind on mortgage payments by over $100,000. Yikes!

As you may recall, Luna Park’s owners made some grumblings about labor costs before trying to sell the restaurant to Gavin Newsom’s company. That fell through, so they tried again with the owners of Mission Beach Cafe. (Luna Park’s sister location in LA was sold to new owners years ago.)

Now it’s not exactly clear what will happen. The liquor license transfer is still pending, but who knows what’s in store if the building winds up getting auctioned off by the bank. Either way the sun has officially set on Luna Park*.
 

(* Sorry.)
 

Update: Inside Scoop confirms that Luna Park is closed for good. Still, this doesn’t explain why the building is in danger of foreclosure.