The team behind Downtown bar Wolf & Crane is on the move, snatching up some prime Sunset Boulevard square footage in Echo Park. Little Tokyo bar owners Michael Francesconi and Matthew Glaser have agreed to buy up cavernous Brit bar The Lost Knight, and some newly printed paperwork in the bar window now confirms the sale.
The sale of The Lost Knight isn’t entirely surprising, given the fluctuations the place has undergone since basically day one. Early partner Mary Thompson decamped just months after opening to go head up drinks for The Line Hotel (and is now at Tallula’s), while the remaining ownership discussed plans to possibly sell the place off for a cool $5.5 million just eight months after opening. Those ideas never initially materialized, but the bar often struggled to find a core audience amidst a changing Echo Park landscape that has also seen the turnover of longtime places like the Gold Room, as well as The Whisperer and corner slice joint Pizza Buona.
Reps for Wolf & Crane confirmed the sale of the property to Francesconi and Glaser, but declined to offer an update on what’s to become of the two-story space so far. Lost Knight partner Pete Nowak also declined to discuss the sale, citing ongoing business transactions relating to the buy. Regardless, expect some upcoming changes to one of Echo Park’s most prominent drinking spots.