Time Out Market saved in the nick of time as Samuels steps in to stop shutdown
Boston’s largest food hall was set to shut its doors for good this Friday. Instead, a last minute deal has kept the Fenway staple alive.
Time Out Market is staying open.
Local real estate developer Samuels and Associates has stepped in to take over management of Time Out Market at 401 Park, just one day before the closure date. The move was first reported by The Boston Globe.
Time Out Market announced earlier this month that it would permanently close on January 23, nearly seven years after opening. The 27,000 square foot food hall cited declining foot traffic and rising operating costs as reasons it could no longer remain profitable.
That decision sparked immediate backlash from vendors, diners, and neighborhood residents.
Steve Samuels, founder and chairman of Samuels and Associates, said the reaction convinced him the space was worth saving.
“It’s a critical piece of the neighborhood,” Samuels told The Globe. He said the market could succeed with new ideas, hands on management, and renewed energy.
Time Out Market opened in 2019 in Fenway’s Landmark Center, now known as 401 Park. It brought together 15 local food and beverage vendors under one roof, including Union Square Donuts, anoush’ella, A&B Burgers, Far Out Ice Cream, Lulu Green, and others. The venue also hosts live music and regular events.
Earlier this month, Time Out CEO Michael Marlay confirmed the closure was driven by uneven post pandemic recovery.
Foot traffic in the area has not returned consistently due to hybrid work schedules, he said, while costs have continued to rise. Those conditions made it impossible for the market to achieve steady profitability.
Marlay praised Boston’s food scene and thanked the vendors, staff, and customers who supported the market since its opening.
Behind the scenes, city leaders were also paying attention. Samuels told The Globe that Mayor Michelle Wu personally reached out and encouraged him to get involved.
Samuels partnered with Alexandria Real Estate Equities, the owner of the 401 Park property, to finalize the takeover. Under the agreement, Samuels will license the Time Out name and brand, meaning the market will keep its current identity and signage.
The plan now is stabilization first, then improvement.
Samuels said he will work directly with the 15 vendors to boost business, refresh the space, and test new concepts.
“We’re going to take our cues from the people who know the business well,” he said. “We’ll give it a good refresh.”
Time Out Market is part of a global brand with locations in cities including New York, Los Angeles, London, Miami, and Lisbon. Boston was the company’s fourth location worldwide.
Not all markets have been so lucky. Time Out Market’s Chicago location is still scheduled to close this week.
For Boston, however, the doors stay open. A major food hall that looked finished just days ago has been pulled back from the brink.
