Manuel's Tavern is being sold, according to a story by Maria Saporta and Douglas Sams  in today's   Atlanta Business Chronicle .

"Manuel's Properties is selling about 1.6 acres, including the Manuel's building — a Poncey Highland landmark — to developer Green Street Properties."

But the good news is, Manuel's will remain, and even be refurbished. And it will still be operated by the Maloof family. AJC business reporter J. Scott Trubey reports that Manuel's plans to close next year for extensive renovations that will coincide with construction of a large mixed-use development by developer Green Street Properties. Read more from the AJC.

For those who don't know it, here's the historic bar's story from the Manuel's website:

Manuel's isn't a "brass and fern" bar. Neither is it a place of anonymous bartenders and nameless, faceless customers. One can find, at any given time, a broad cross-section of American culture rubbing elbows at the bar, discussing the news item of the day, arguing the merits of a sports team, or espousing the idea of the century. Here a doctor, a plumber, a lawyer, an electrician, a student, a journalist, a salesman, a politician, or a construction worker can feel comfortable--accepted for who they are, known by their name or what they drink. They are "regulars," the life-blood of the Tavern. Manuel's Tavern has an essence like no other place in Atlanta.

Here's a statement/UPDATE about the sale from Brian Maloof on the Manuel's Facebook page:

With the guarantee that Manuel’s Tavern will be completely refurbished, we believe that the sale of our property is the best way to carry forward the legacy of Manuel and Robert Maloof. My cousin Steve, my brother Michael and I truly believe that if Manuel and Robert were here today, they would eagerly embrace this project.