Groton - By late April, the Seahorse Restaurant, which closed abruptly in January, will reopen under new ownership, but retain its ambiance as a seaside neighborhood restaurant and pub.

Bill Spicer, whose family has owned the nearby Spicer's Marina since the 1950s, recently purchased the property on Marsh Road in Noank for $710,000 after the bank that foreclosed on it marketed it to prospective buyers, Spicer said.

Thomas Tsagarakis, who owns Zack's Bar & Grille in Stonington, will run it. He is already hiring 50 or more full- and part-time workers.

The restaurant, which started in 1947 as a hotdog stand next to the marina off West Cove, has been a staple of village life for many years.

"The Seahorse has always had notable camaraderie and that is definitely going to continue," said Spicer in a phone interview.

Spicer is repairing and refurbishing the interior, but will preserve fish scales painted on the ceiling that Tsagarakis says "the people of Noank like."

Despite keeping some mementos from the past, Tsagarakis said, "You're not going to recognize it when you walk in. It's going to be a nice look, nice and new."

And, of course, Spicer said, he will keep the name, "so people will recognize it as basically the real Seahorse."

The restaurant, which can seat 140, will have both pub and dining menus, Tsagarakis added. The cuisine will be American.

"What I plan on doing is keeping it as simple as I can," Tsagarakis said.

"The place is an institution and I think it's going to be a win-win for everybody down there," he said. "People in Noank and the boaters love that place, so it's exciting to be part of this."

p.daddona@theday.com