Tue05262015

Business & Real Estate

Maltby's sees reprieve


Town Crier File Photos
Maltby’s Restaurant, above, will remain open, at least through St. Patrick’s Day, when festivities include music and green beer.

Maltby’s Restaurant remains open, despite failed negotiations with the landlord – and the reprieve will last at least past St. Patrick’s Day, to the relief of corned-beef lovers across the city.

Proprietor James Maltby switched to a month-to-month lease as his landlord, Tripat Mangat, looks for a tenant willing to pay a higher rate for the space. After 17 years at 101 Plaza North, Maltby hit what he felt was a ceiling when his rent neared $11,000 per month last year. The hike to $15,000 now proposed for the space meant that Maltby’s was reaching the end of its tenancy.

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Stock volatility can be confusing

Since the beginning of the new year, the market has dropped more than 200 points on 15 different days.

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Transactions

Los Altos

159 Cuesta Drive, G. Eger to I. Brown for $1,364,000

276 Delphi Court, McLaren Trust to M. Steiner for $3,195,000

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Le Boulanger facelift approved: Commission votes unanimously in favor of facade, interior changes


courtesy of City of Los Altos
The Los Altos Historical Commission unanimously approved a remodeling plan for Le Boulanger.

The proposed exterior redesign of Le Boulanger bakery and cafe passed its lone public review last week when the Los Altos Historical Commission approved the project unanimously.

The commission’s green light followed a September study session on the matter and recommended that the historical building retain certain landmark features, including its curved shape at the corner of Main and Second streets.

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Investors on edge as lows persist

As we move into February, investors are on edge as stocks return to their mid-December lows.

The first month of the year proved to be challenging for investors, with high volatility and negative returns influencing the major market indices. The new year is shaping up to be quite different from the index records enjoyed in 2013 and 2014.

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Transactions

Los Altos

660 Giralda Drive, Black Trust to H. Zhong for $2,600,000

1890 Newcastle Drive, Frey Trust to W. & W. Chen for $2,050,000

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Wine & beer lounge coming to First Street


Ellie Van Houtte/Town Crier
The new wine and beer lounge Honcho heads to First Street, with a spring opening anticipated.

A cocktail lounge proposed for First Street has cleared its first hurdle – the Los Altos Planning and Transportation Commission.

The commission voted unanimously Jan. 15 to approve a conditional-use permit for Honcho, a beer and wine lounge slated for 235 First St., the former home of Land of Nod. The permit was necessary, according to a city staff report, because the proposed business is in an area zoned primarily for retail use.

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