Iconic El Greco Diner To Close Next Week, Sources Say Residential Development In The Works

UPDATE: See the

the new owners have planned for this space, and hear what the current owners and some patrons will miss the most when El Greco closes.

Sheepshead Bay’s iconic El Greco Diner is set to shutter next week after the property has gone into contract for a sale, making way for a new residential tower with ground-level commercial space, sources tell Sheepshead Bites.

El Greco Diner, a waterfront staple at 1821 Emmons Avenue, will soon serve its last burger and breakfast, an employee confirmed by phone today.

“Yes, we’re closing. By the end of next week. We’re not sure yet [what day],” the employee said.

The worker added that she and colleagues were told just yesterday. She hung up the phone when asked for additional details.

The sale of the property and its closure are not yet public. Owner George Venetoklis did not return calls for comment, but sources with knowledge of the deal confirmed social media chatter, and said that the land has sold to a local developer with plans to construct a new building.

The building was put up for sale in March 2013 with an asking price of $17.5 million. An associate for Massey Knakel Realty Services, the listing agent, told Sheepshead Bites that the company no longer represented the property, but that El Greco’s owners had gone in-contract with a private buyer.

A source with knowledge of the pending sale said the deal hasn’t closed yet, but is in contract for between $13 and $15 million. The source requested anonymity to preserve business relationships with the owner.

“They should be closing shortly,” the source said.

No plans have been filed with the Department of Buildings, and since the deal has not closed there has been no paperwork filed notifying the city in a change of ownership.

El Greco has served Sheepshead Bay patrons since the 1970s, and has been named one of Brooklyn’s best diners. Employees were hit hard by the news of its impending closure, according to diners who visited this morning.

“My wife was there this morning and the employees were all devastated,” said Michael Goldstein, the director of marketing at Kingsborough Community College. “They also told her in secret.”

UPDATE (December 12, 2014 at 2pm): The deal officially closed this morning, confirmed owner George Venetoklis. He did not disclose the sale price or the buyer, but did add that El Greco’s last day of operation is slated for Friday, December 19.