Fraunces Tavern Closure

History buffs, take note! The 240-year-old Fraunces Tavern isn’t really closed. Even though the restaurant shut down last month amid a flurry of press coverage, the three-story brick landmark building is still open -- to museum visitors.

The main floor restaurant, now hidden behind red velvet curtains, has been open on and off for the past two centuries. The last operators of this dining room filled with dark brown colonial furniture and white tablecloths closed suddenly last month due to "the national economic crisis," according to a press release from Sons of the Revolution, which owns the building.

But on the second floor, the Fraunces Tavern Museum remains open to anyone willing to pay the $10 admission. Here, you will find painted murals of our distinguished founding fathers along
with muskets used in the war, documents signed by Washington and many paintings.

In 1904, the Sons of the Revolution bought this building at 54 Pearl St. because this is where President George Washington bid farewell to his posse on the eve of his retirement.

"We have several [tenants] in consideration, and would like the transition to be as smooth and brief as possible," said sons spokesman Anthony Wellman.

For now, the sons hope people will visit for the artifacts. But they still intend to revive the restaurant. The last company to run the eatery was 54 Pearl Street Associates, which entered an 11-year-lease in 1999, that it was breaking early.

"It's been a fixture in downtown since downtown Manhattan was Manhattan," said Wellman.

The tavern, which was one of the oldest restaurants in the city, is located a few blocks from The New York Stock Exchange near Wall Street. It sits in the shadow of Goldman Sachs’ recently vacated headquarters.

The dining quarters have distinctive rooms with names like The Lafayette Lounge, Washington Room, Tallmadge Room and Bissel Room. Originally known as Queens-Head Tavern, the restaurant first opened in 1762. It now bears the name of Samuel Fraunces, innkeeper and eventual Chief Steward at George Washington's White House.

More than anything, its a product of the economy said Bjorn Hanson, clinical associate professor of Hospitality and Tourism Management at NYU. The decrease in number of executives downtown is partially responsible for the sub-par economic climate downtown.

“Unfortunately, it reflects the reality of unemployment and consumer spending patterns in lower Manhattan,” he said.

And the tavern isn't alone. "Many Manhattan fine dining restaurants have experienced declines of 25 percent in revenues, meaning 25 percent lower than the peak, which was in 2007,” Hanson added. “Many restaurants in Lower Manhattan have experienced an even larger decline."

During the last decade 54 Pearl Street ran the restaurant to mixed reviews: "Middling food with a side order of history, in a location surrounded by eejit banker-types," Tim R. posted on Yelp.com, the business review website.

"Have your beer with a side of history at Fraunces Tavern-- revolution never tasted so good." posted Tom K.

"I am surprised it stayed open as long as it did," said Natalie Gingerich, who ate at the restaurant for the first time two months ago and wrote about the experience on the Yelp. She said that poor service and bad food created a historical experience she won't be recreating anytime soon.

"For it being one of the oldest restaurants in New York City, the way they have taken care of the space didn't do it justice,” Gingerich said.