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August 8, 2010

From prime-time TV to Prime foreclosure auction: Timothy Dean's restaurant to be sold

Timothy DeanTimothy Dean's Prime Steakhouse is headed for the auction block.

The Fells Point buildings that are home to the restaurant, which Dean launched in February, shortly before he started competing in television's "Top Chef," are to be sold in a bank foreclosure auction next month.

So says the listing on Jonathan Melnick Auctioneers. The auction of the buildings, at 1717, 1719 and 1721 Eastern Avenue, is scheduled for Sept. 16.

I just tried to reach Dean but no one was at the restaurant at this hour. T.D. Bistro Inc., which previously owned a bistro and lounge at that Eastern Avenue location, filed for Chapter 11 bankruptcy protection in May.

Dean was eliminated from "Top Chef" in July. In an interview at the time, Dean said the show had given a boost to Prime. He also said he had plans to open another Prime location at Boulevard at the Capital Centre in Largo, in the 7,000-square-foot space that previously housed The Sideline, a now-shuttered restaurant owned by former Washington Redskins linebacker LaVar Arrington.

 

Bravo photo
Posted by Laura Vozzella at 11:56 AM | | Comments (8)
        

Comments

I am pretty ignorant when it comes to auctions and foreclosures, but did Timothy Dean own the building? And if he didn't, but still had a lease, would that mean that he would still be in business.

I always thought that the lease is always good no matter what, then again, I could easily be wrong.

He controls the real estate LLC that owns the buildings.

I guess he can cook, but he doesn't sound like much of a businessman.

Pack your knives and go...

Are you looking to file for bankruptcy? Compare your bankruptcy options and information http://bit.ly/cpmRHo

The 1:45 am is spam, but for some reason it made me laugh in this comment thread.

Oh, and when I scrolled down, one of my captcha words was a Chinese character. What the hell?

Yes, Anonymous. The bankruptcy spam seemed apropos, except for the fact that TD has already filed, so I left it. LV

jason z, the lease is only as good as the tenant's rent payment history. It's at least theoretically possible that the restaurant tenant wasn't paying the rent on a timely basis to Mr. Dean's real estate LLC, so that the LLC didn't pay the mortgage on a timely basis to the lender who's filed the foreclosure suit.

Damn! I just bought a Timothy Dean Steakhouse franchise from a guy at the Waverly market on Saturday.

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About this blog

You are reading the archives. For updated blog posts about the Maryland food scene, see Richard Gorelick's new Baltimore Diner blog.
Richard Gorelick was appointed The Baltimore Sun's restaurant critic in September 2010. Before joining the paper staff fulltime, he contributed freelance criticism and features articles about food to area and regional publications. Along the way, he dispatched for short-distance trucking companies, shilled for cultural non-profits, and assisted in cognitive neurology research – never the subject, always the control.

He takes restaurants seriously but not himself, and his favorite restaurant is the one you love, too.
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