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Auction canceled for West Roxbury's Tony's Place, restaurant stays open

Auction canceled for West Roxbury's Tony's Place, restaurant stays open

Money Moves Boston, MA local

Cooperative Bank halts foreclosure sale; family-run Tony's Place stays open

October 9th, 2026: Auction canceled

Overview

Updated Oct 30

The Cooperative Bank had hired Paul E. Saperstein Co. of Holbrook to auction the building and land at Baker and Spring streets on October 29, 2026. The auction firm canceled the sale in early October, and the restaurant kept its property.

The October 29 date has now passed with no sale and no new notice. Universal Hub and a late-October blog both report the restaurant is still open, but neither explains the loan terms. Watch for a recorded mortgage modification or a new auction notice.

Why it matters

One of Boston's most enduring family eateries keeps its building and stays open after the bank's auction was called off.

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Key Indicators

1969
Year the family began running Tony's Place
The restaurant has operated under the same family stewardship since 1969.
Oct 29
Date of the canceled auction
The auction of the restaurant's building and land, scheduled for October 29, 2026, was canceled.
Baker and Spring Streets
Tony's Place location
The restaurant is located at the intersection of Baker and Spring Streets in West Roxbury.

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People Involved

Elio Imbornone
Elio Imbornone
Founder
Bought Tony's Place from his boss in 1969; the family has run the restaurant since.

Organizations Involved

The Cooperative Bank
The Cooperative Bank
Community bank
Holds the mortgage on the Tony's Place property. The auction firm it hired canceled the October 29, 2026 foreclosure sale. No new sale notice had been reported as of October 30.

Roslindale-based bank holding the mortgage on Tony's Place; its auction firm called off the foreclosure sale.
UA
Unidentified Auction Firm
Real Estate Auction Company
Announced the cancellation of the scheduled October 29 auction for the bank holding the mortgage.

Paul E. Saperstein Co. of Holbrook, the auction firm the bank hired, which announced the canceled sale.

Timeline

2 events Latest: October 9th, 2026 · 1 month ago

  1. Auction canceled

    Latest Legal / Financial

    The bank's auction firm, Paul E. Saperstein Co. of Holbrook, canceled the October 29 auction of Tony's Place, letting the restaurant keep its property and stay open. The same family has run the restaurant since 1969.

  2. Foreclosure auction scheduled for Oct. 29

    Legal / Financial

    Paul E. Saperstein Co. of Holbrook posted notice of an October 29 auction of the Tony's Place building and land at Baker and Spring streets, for the mortgage holder, Cooperative Bank. Universal Hub reported the notice on October 6. Bidding was set to begin at 11 a.m. with a $25,000 deposit.

Scenarios

1

Debt restructured, retirement of family owners

Possible Resolves by Jan 31, 2027

Discussed by: Community observers and local business analysts

The bank cancels the auction to work out a deal with the owners. They refinance the mortgage or negotiate a settlement that pays off the debt. The restaurant, likely run by the founding family, may then plan for a controlled transition, either selling the business or handing it to new operators while keeping the real estate.

2

Auction rescheduled after talks fail

Possible Resolves by Q2 2027

Discussed by: Real estate foreclosure specialists

The cancellation is a temporary pause. Negotiations between the bank and the owners break down. The bank reschedules the auction for a later date, and the property is ultimately sold to a new owner, who may or may not continue the restaurant under the Tony's Place name.

3

Sale completed, name licensed

Unlikely Resolves by Q2 2027

Discussed by: Local restaurant industry watchers

The bank forecloses and sells the property to a new owner. The new owner, recognizing the brand, licenses the 'Tony's Place' name from the original family. The restaurant survives in name and possibly menu, but passes out of family control, becoming a licensed concept.

Historical Context

One moment from history that rhymes with this story — and how it unfolded.

2010s-2020s

Closure of Famous Local Eateries

Across Boston, long-standing family restaurants, such as those in Dorchester and Jamaica Plain, closed after owners retired or faced mounting rent and debt, unable to pass the business to a next generation. These closures often followed disputes over property value and landlord decisions.

Then

The immediate closure led to a loss of neighborhood gathering spaces and jobs, and often a period of vacant or redeveloped storefronts.

Now

The events accelerated the gentrification and homogenization of commercial streets, with chains replacing independent, decades-old establishments.

Why this matters now

The threat to Tony's Place fits a broader pattern of independent Boston restaurants facing forced consolidation due to real estate pressure, although here a reprieve has been granted.

Sources

(3)
+1
Universal Hub Muncey Group Universal Hub