Pearl Restaurant and its upstairs Ponche Tiki Bar have gone dark without warning at Market Space in downtown Annapolis, leaving staff and regulars scrambling for answers. Former employees told a local outlet they were not given advance notice before the doors were locked this week. Owners of nearby Osteria 177 are reported to be stepping in to operate the 26 Market Space location while officials and the businesses sort out what happens next.
As first reported by Eye On Annapolis on Thursday, employees said Pearl never opened earlier in the week and that some staff only learned about the shutdown after arriving for their shifts. The outlet reported that the owners of Osteria 177 will take over the Market Space operation, but did not give a firm timeline. According to Eye On Annapolis, calls seeking comment were not returned by Pearl or Osteria 177.
City Licensing Still Lists Pearl
Municipal licensing records continue to show "Pearl Restaurant and Bar" listed under Market SPS, LLC for the 26 Market Space address in a roster the City of Annapolis updated April 7. You can see the listing in the City of Annapolis records. That record indicates a formal transfer of permits may not yet be reflected in city files.
Pearl's Short Run In Market Space
Pearl and Ponche opened in the spring of 2024 as a two-level dining and nightlife concept that took over the old Market Space footprint, according to a Capital Gazette piece on the debut. Pearl's website still lists the Market Space address along with regular dinner and nightlife hours, a sign that the online presence has not yet caught up with the closure. The quick turnover adds to a string of recent changes for the Market Space block.
Osteria 177 Stepping In
As Eye On Annapolis reported, Osteria 177, a longtime Italian restaurant on Main Street, is said to be taking over operations at Market Space, though the outlet did not include specific dates. The Washington Post and local dining guides have chronicled Osteria 177's history at 177 Main Street, underscoring that a Market Space partnership would pair two well-known downtown names. For now, it is unclear whether the move will be a temporary management arrangement or a longer-term conversion.
What To Watch Next
Diners and downtown businesses are watching to see whether a formal license transfer or announcement follows the local report and how quickly the space reopens. Coverage will be updated when officials file permit changes or when the restaurants issue statements. In the meantime, Market Space remains a focal point for restaurant turnover in the heart of Annapolis.
