Loony Bin closes deal for downtown space

UPDATED — As expected, the owners of the Loony Bin closed a deal this week to buy the 13,000-square-foot building between First and Second streets on St. Francis across from the urban park on the southeast corner of Second and St. Francis.

“We hope to get open probably early fall, September or October at the latest, I would say,” says partner Jeff Jones.

The Loony Bin had been at 21st and Woodlawn in Oxford Square from 1999 until it closed in late March.

The new space is two buildings — one a single story and one that’s two stories — that are attached.

The 3,400-square-foot single-story space is where the comedy club will be. It will hold about 150, which is down from the 299 that the previous space held.

“Although that was pretty optimistic,” Jones says.

He says if there’s demand, he can always add extra shows at the new space.

“We really feel like we can do the same amount of business in a smaller space.”

Jeff Englert and Nathan Farha of NAI Martens and Dave Brown of Prudential Dinning-Beard handled the deal.

Jones says he and partner Larry Marks haven’t decided what to do with the remainder of their space yet.

“Our priority basically with the building is to get the club in there, set up and operational,” he says. “What we have to do first is make sure it works for the club. We’re just kind of taking it one step at a time.”