Lola’s restaurant in Oak Bluffs was sold to new owners this week for $2.3 million.

Nancy’s Snack Bar owner Doug Abdelnour Jr. said he has been in talks with owners for years about taking over the spot. — Mark Alan Lovewell/Gazette file photo

Longtime owner Kathy Domitrovich confirmed earlier in the week that she planned to close on a sale of the Beach Road establishment to New Bedford businessman Horacio Tavares.

The sale went through late Wednesday afternoon; the buyer of record is H&M M/V, an LLC with an Oak Bluffs address.

Mrs. Domitrovich also said the restaurant will be managed by Doug Abdelnour Jr., the owner of Nancy’s Snack Bar in Oak Bluffs.

Reached by telephone Monday, Mr. Abdelnour declined to go into specifics about his plans for the restaurant, but he said the space will remain a bar and restaurant with live music.

“It’s going to be very similar to what’s there. The menu and bar might be a little different,” he said.

Mr. Abdelnour said he has been in talks with the owners for five years about taking over the popular night spot on Beach Road, long known for its seafood, southern-style hospitality and dancing.

“I really loved the location since I was a kid. My dad used to have holiday parties hosted there . . . it’s a great space and I really like Kathy,” Mr. Abdelnour said. “I think that if we’re the ones who are able to give it a little bit of new life, I’d be excited to do that.”

Horacio Tavares, who also owns a home in Oak Bluffs, is the owner of Horacio’s Welding and Sheet Metal Inc. in New Bedford. He could not be immediately reached for comment.

Mrs. Domitrovich admitted that it will be bittersweet to leave the restaurant she has owned and managed for 25 years with her husband Paul Domitrovich, who died last year. She said it’s been difficult to run the restaurant herself since his death.

Farewell party begins Friday at 8 p.m. All are welcome; there is no cover charge. — Mark Alan Lovewell/Gazette file photo

“My husband was the front and center of the restaurant,” she said. “I think that’s a big reason why it’s time. There’s days people come in and look for him. We enjoyed so many happy times there. That’s what I’ll miss most. There’s an old Greek mentality that you have to drop dead in your restaurant, but I’m not going to do that.”

Mrs. Domitrovich said she plans to move into a house she has renovated in Miami, Fla., and continue the Lola’s brand by starting a small wedding and events business. She said she has also been writing a book about her over 40 years in the restaurant business titled Why You Shouldn’t Open a Restaurant.

Lola’s has changed hands twice in the past decade to other Island restaurant owners, but the Domitroviches returned as owners each time after the concepts failed. Mrs. Domitrovich said she believes this time the restaurant will be in good hands with Mr. Abdelnour. She called Nancy’s one of the most respected businesses on the Vineyard, owing largely to Mr. Abdelnour’s work ethic.

“He’s a nice, joyful, caring person and that gets you a lot in this community. I think it will be a very welcoming location for my clientele,” she said.

Mrs. Domitrovich will commemorate the end of her long run at Lola’s with a farewell party on Friday starting at 8 p.m. at the restaurant. She said all are welcome and there will be no cover charge.

And after 25 years greeting customers with a smile and throwing dozens of events each summer, Mrs. Domitrovich had a few words of advice for the future owners.

“You have to give them something other than a meal,” she said. “When you have that much space, you have to give them a destination to come into. You need that hook. Mine was value, music, joy. Everyone who came to Lola’s had a good time. It’s full of joy in there. I think anyone who wants to succeed in that location has to do that.”