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Tuesday, March 11, 2008

Neldam's May Close

By Dan

The landmark Neldam's Danish Bakery, which opened almost eight decades ago, has listed its property for sale and may be forced to close the doors of the family business this summer, the Oakland Tribune reported recently.

As a result, many Oakland families who have enjoyed Neldam's popular Dream-of-Cream cake and other tasty treats on graduation, birthday and wedding occasions might have to imagine life without the bakery. And the city may stand to lose one of its oldest institutions — one that had been set to celebrate its 80th anniversary nextyear.

Last week, the company put its land and the building at 3401 Telegraph Avenue on the market through Neldam's Holding Group LLC, for $4.55 million. Neldam's business operates as a separate entity and is not up for sale. Mark Neldam, a third-generation owner, said he has to sell the 4,500-square-foot building and their parking lot across the street to pay off a balloon loan payment of $500,000 due in August. But Neldam worries that still may not be enough to cover the company's other outstanding $2 million loan.

Mark Neldam said he wonders where the future of his business lies and if he can continue a tradition.

 

Posted at 09:50 AM | Permalink

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