Bert’s Warehouse Complex Sells For $2M

The complex housing Eastern Market institution Bert's Warehouse has sold for approximately $2 million, Crain's first reports. The Russell Street restaurant building, owned by Bert Dearing, was lost to foreclosure on July 11, 2014 and recently went to auction at a minimum bid of $700,000. Fans and the Eastern Market business community have rallied around Bert's in recent weeks with a campaign to try and purchase back the building. Dearing has occupied for the more than 25 years.

The buyer's identity was not immediately disclosed; however, real estate adviser Ryan Snoek tells Crain's the restaurant and bar has a lease through February 2017 and is unlikely to be evicted. "He won't be kicked out," Snoek says. "It's not easy just to kick someone out. They are totally protected." Eater has reached out to Dearing for further comment.