One of Little Italy’s best-known watering holes is looking for a new operator after more than 90 years on Preston Street.
The Prescott, a neighbourhood institution known for its meatball sandwiches, quarts of beer and generations of loyal regulars, has been put up for sale.
The business at 379 Preston St. is currently listed for $499,000 — a $300,000 reduction from its original asking price. Real estate records show the Prescott was first listed for $799,000 on May 20 before the price was reduced.
The sale is for the business — not the historic building itself.
The approximately 10,000-square-foot operation includes the Prescott and its rooftop patio, the Porch on Preston. The establishment is licensed for 600 people, including the patio, and has a full commercial kitchen, walk-in refrigeration and multiple spaces capable of hosting events and entertainment.
“The legendary Prescott is available in the heart of Little Italy in Ottawa,” reads the listing from Carve Real Estate, which describes the establishment as one of the city’s best-known sports bars and entertainment destinations.
“The business is available with training or can be converted into a different concept, cuisine, franchise, or entertainment venue,” the listing states.
Monthly gross rent, including TMI, is listed at $34,100, with what the listing describes as significant time remaining on the lease.
The Prescott’s size is also part of its selling pitch. The business has multiple service areas and a large commercial kitchen designed for high-volume food and beverage operations. Its rooftop patio has in recent years become a separate attraction overlooking Preston Street.
The sale comes less than two years after the Prescott celebrated its 90th anniversary.
From the Preston Hotel to a Little Italy institution
The Prescott’s story began in September 1934, when Giuseppe Costantini and Antonio Disipio opened the Preston Hotel.
The two Italian immigrants wanted to establish a drinking establishment, but liquor licensing rules required them to have rooms available for overnight guests. The result was a hotel and tavern on what was then a very different Preston Street.
Its location helped make it a popular stopping point. The establishment became known as the “last chance” spot along the highway heading out of Ottawa, eventually helping give the Prescott its name.
But its early years were also shaped by one of the darker chapters in the history of Italian Canadians.
During the Second World War, Italian Canadians were labelled “enemy aliens” by the federal government following Italy’s entry into the war. Costantini was among five Italian men from Ottawa who were detained.
Costantini spent eight months at the internment camp in Petawawa. Before his detention, he surrendered his share of the business to his lawyer, John Ebbs Sr., in an effort to protect it. Ebbs was later able to reacquire the hotel’s liquor licence and remained a silent partner for decades.
Disipio was also detained during the arrests but was released after an eight-hour interrogation. He was barred from returning to work, and the hotel was eventually closed by the RCMP until the end of the war.
The business survived.
The upstairs hotel rooms continued to be rented until 1978. When KT toured the building in 2024, remnants of that era remained upstairs, including original curtains and decades-old fire exit instructions.
At its peak, the establishment sold between 12,000 and 15,000 quarts of beer every week, according to former general manager Trever Proulx, who spoke with KT for its 90th-anniversary feature.
The Prescott remained in the Disipio family for three generations. That came to an end in April 2020, when the business changed hands. Kitchissippi Times reported in 2024 that the Little Italy institution was handed over to The Properties Group, an Ottawa-based real estate investment and management firm.