Somerset’s Magoni’s Ferry Landing under agreement with sale pending

A Somerset landmark that was placed on the market earlier this year has a buyer.

In May, Lindsey Bshara-Leviss of Salt Marsh Realty Group listed for sale Magoni’s Ferry Landing Restaurant at 681 Riverside Avenue.

As aptly put by the real estate listing, Magoni’s has been a Somerset institution since 1951, “family owned and operated, where locals, friends, and visitors gather and meet, with plenty of room to accommodate large functions.”

The price tag of $1,250,000 isn’t pocket change, but in addition to getting the Magoni reputation, with the sale, you receive a property with the capacity of almost 300, parking for 100 vehicles, a fireplace, 1.54 acres, and all the fixtures including equipment, real estate, vintage memorabilia, original neon sign, and a full liquor license.

The sale of the property is now pending and under agreement, but not finalized, by the Gorman family according to people familiar with the situation.

The Gorman family owns Sakonnet River Grille and Four Corners Grille in Tiverton along with Palmer River Grille in Warren.

Magoni’s ownership previously stated that they were looking for someone to take the business to the next level, not end it, and it appears that is exactly where it is headed.