Sardi's Sells Its Name and Takes a Brief Intermission

The longtime owner of the restaurant, a Theater District mainstay, is bowing out, and the Shubert Organization plans to reopen after a renovation, with the celebrity caricatures intact.

Mar. 26, 2026 at 10:18pm

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After 99 years as an anchor in Manhattan's theater district, Sardi's, the restaurant and watering hole famed for its walls of caricatures of celebrities, is going dark for an extended intermission. Max Klimavicius, the sole owner after 33 years, is selling the Sardi's name and all kitchen fixtures and caricatures to the Shubert Organization, the theater company giant that is also his landlord. Sardi's will close for several months for renovations, but the walls of celebrity caricatures won't be going anywhere.

Why it matters

Sardi's has been a beloved institution in New York's Theater District for nearly a century, serving as a gathering place for Broadway stars and theater-goers alike. The sale of the Sardi's name and assets to the Shubert Organization, which owns the building Sardi's occupies, ensures the restaurant's legacy will continue, even as the longtime owner retires.

The details

Max Klimavicius, who rose from kitchen expediter to become the sole owner after 33 years, is selling the Sardi's name, all kitchen fixtures, and more than 1,000 caricatures to the Shubert Organization. Sardi's will close for several months for renovations, but the walls of celebrity caricatures won't be going anywhere. The Shubert Organization plans to refurbish the dining room and upgrade the lighting, ventilation, and plumbing, but doesn't intend to make major changes to the décor.

  • Sardi's will close on June 24, 2026 for renovations.
  • The restaurant is expected to reopen in the fall of 2026 after the renovations are complete.

The players

Max Klimavicius

The sole owner of Sardi's for the past 33 years, who is selling the restaurant's name and assets to the Shubert Organization.

Shubert Organization

The theater company giant that owns the building Sardi's occupies and is purchasing the restaurant's name and assets.

Robert E. Wankel

The chairman and CEO of the Shubert Organization.

Jeff T. Daniel

The president of the Shubert Organization.

Jeremy Wagner

A Sardi's bartender who has worked at the restaurant since 2000.

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What they’re saying

“The restaurant has always been important to us. I consider it as much a part of the theater district as our theaters, and we want to make sure it stays in business. Obviously, we're going to have a new restaurateur, so the menu might change a little bit.”

— Robert E. Wankel, Chairman and CEO of the Shubert Organization

“For me, this wasn't about the money. It was about the continuity of this legacy, so important to me. This has been my life. I came here as a young man that didn't know what Sardi's was about.”

— Max Klimavicius, Outgoing owner of Sardi's

“There's some nervousness about what's going to happen, but it's probably the best-case scenario. I'm seeing it as an opportunity; a hundred-year-old building needs a little touch-up.”

— Jeremy Wagner, Sardi's bartender

What’s next

The Shubert Organization plans to reopen Sardi's in the fall of 2026 after completing renovations to the dining room, lighting, ventilation, and plumbing.

The takeaway

The sale of Sardi's to the Shubert Organization ensures the iconic restaurant's legacy will continue, even as its longtime owner retires. While some changes to the menu and staff are expected, the restaurant's famous caricatures and place in the Theater District will remain, demonstrating how legacy businesses can adapt to new ownership while preserving their unique character.