""The restaurant was on a month-to-month agreement with the Port after its lease expired in December 2024," Young said in an email. "Port staff are currently assessing the building in anticipation of bringing the facility to market in early 2026 in search of a new restaurateur.""
""significant economic challenges stemming from the COVID-19 pandemic,""
The Waterfront Restaurant closed on New Year's Eve after 56 years of operation on the Embarcadero. The restaurant operated on a month-to-month agreement after its lease expired in December 2024 and the Port is assessing the Pier 7 building to bring the facility to market in early 2026. The Waterfront first opened in 1969, originated as a longshoreman's bar, and later served fresh seafood and California-Mediterranean cuisine with Bay Bridge and Alcatraz views. Owners Al and Cheryl Falchi rebuilt after a 1973 fire and the 1989 Loma Prieta earthquake. The restaurant experienced a 55% earnings decline from 2019 to 2025 due to significant economic challenges stemming from the COVID-19 pandemic. A 2023 class-action labor lawsuit reached a $3,000 net settlement in October 2025, with $750 split among 69 employees. Maven Commercial will search for a new tenant for the prominent restaurant space.
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