A Chinese investor based out of Rhode Island has purchased the historic Bull Mansion in downtown Worcester for $1.16 million, with plans to reopen the restaurant and events spaces.
Through his company Arkland LLC based in Johnston, R.I., investor Jackson Song closed on the property transaction on Thursday from Bull Mansion LLC, which is the company run by business partners Victoria Mariano and Adi Tibrewal.
Tibrewal and Mariano originally bought the property in March 2016 for $487,500. They ran a restaurant and an events space in the stone building at 55 Pearl Street for the first two years, before closing down the unprofitable restaurant in favor of an events-and-catering business for the third year, which did turn a profit, they said.
“Eventually, we saw our part in Bull Mansion more as landlords, less like operators,” Mariano said. “We wanted the business to run itself, but we could never find another tenant who wanted to run an operation there.”
The Bull Mansion had its liquor license seized in September over back taxes, which forced the events-and-catering business to close down. In the sale closed on Thursday, the $76,000 in back taxes were paid.
Song, who owns medical office buildings in Rhode Island, said he wanted to buy the Bull Mansion because he was impressed with the stonework and building quality of the 144-year-old building.
“It is a very strong building. The roof and the stone wall are all very strong,” Song said. “That was a main reason I was interested.”
The property was last assessed by the City of Worcester for $699,900.
Song plans to bring in Nick Greco as the primary operator and tenant to reopen the restaurant and function space in the Bull Mansion.
Greco, who is partnering with his wife on the businesses, declined to elaborate further on his plans for the Bull Mansion, although promised there would be some buzz around his proposals once they are ready to be announced.
