Canal District businessman buys two former bars on Water Street
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The two storefronts at 105-111 Water Street, which sold for $1.3M.
Two storefronts spanning 105-111 Water St. in Worcester were sold for $1.3 million to the president of the Canal District Alliance, Jefferson Mararian, who owns several other properties in the city.
Located next to the night club Whiskey on Water and across from The Broadway Restaurant, the two storefronts have housed several bars in the past few years, including a hookah bar called Mambo Drink and Moonshiners Country Bar.
The former site of Moonshiners, 105 Water St., has a new tenant and will open as a restaurant, Mararian said in a phone interview. In June, The Dubai Restaurant & Lounge, located on Pleasant Street, applied to transfer its liquor license to 105 Water St.
Mararian said he plans to do his own renovations at 111 Water St., which is currently built as a bar. The Northborough businessman has experience owning a bar; he owned Blackstone Tap on Water Street for 12 years before it fell into the hands of a convicted drug launderer. In 2018, Mararian bought back the property, which now houses Rock Bar. He also owns Union Music’s property on Southbridge Street.
The two Water Street storefronts were sold by Arthur Mooradian, who was serving as the trustee of a trust registered to Michael Vecchio of Andover, per the deed. Vecchio passed away in 2009.
The property for both addresses is assessed by the City of Worcester at $507,400.
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