Well folks, this is a sad, yet bittersweet story to share. The Terrace restaurant – one of my absolute favorite restaurants – is likely closing for good. We will all know for certain later this year.
Erica and Robin Miner – the owners of The Terrace restaurant – listed the property for sale last week. And as no surprise to anyone, it went under contract less than two days later. The Terrace business itself was not included in the listing; it was solely a real estate purchase. The asking price was $5 million.
The Terrace’s last night of the season is this Friday, July 31st. The real estate closing is scheduled for this fall.
“It’s very bittersweet for us,” Erica Minor told me Tuesday morning. “We have loved serving STJ for the last 14 years there. But I’m also not done cooking here by any means. I’ll likely be popping up places and offering some private chef services later next season after some time off.”
I don’t know about all of you, but I am thrilled to know Erica plans to continue cheffing on island.
Commercial real estate rarely lists for sale on St. John, let alone in Cruz Bay. Since July 2016, only four commercial properties sold on St. John, per the MLS.
- The parcel where the former Shipwreck Landing restaurant was located sold for $825,000 in 2021.
- The parcel where the former Pickles in Paradise restaurant was located sold for $999,000 in 2019.
- The commercial building across the street from Skinny Legs sold for $1,150,000 in 2021.
- The commercial building where St. John Provisions is located sold for $1,400,000 in 2017.
- Wharfside Village – the section from the Beach Bar to La Tapa – sold for $2,970,000 in April 2016. (This is not listed on the MLS, but it is listed on the deed recorder’s site.)
The Terrace parcel is zoned R-4, which is residential medium density. The existing stone and masonry building can be expanded up to three stories, according to the listing. It is not certain what the new owners plan to do with the space.
If you are looking to purchase a business or property in St. John, I would love to help! I am a licensed realtor with 340 Real Estate Co. here in St. John. Please contact me at jenn@explorestj.com or via phone/text at 203-376-3786 for more information.