A local group has purchased The Pub, downtown Rye’s oldest watering hole.
Local restauranteur Tim Cacase, who owns Rafele and Gordito, is a member of the purchasing group called 3 Elm Place, LLC, a name derived from the location of the tiny 713-square-foot bar — on 0.02 acres — nestled between Starbucks and Al Dente Pizzeria.
The deal was finalized on Jan. 22, according to sources. It is unclear how much the bar sold for, although the asking price was listed at $975,000.
Seller DJ Schack, who had owned The Pub since 2018, said, “It’s a great place with a storied history and I am very happy to be passing it on to some people who care about that.”
The property traces its roots as a drinking establishment all the way back to the 1920s. Originally called Buggies and then The Little Club, The Pub was created by long-time proprietor James Finneran in 1982.
The new owners did not share details of how they plan to update the space with The Record.
