by Russ Parsons

Santa Monica's landmark Valentino restaurant celebrated it's 40th birthday this winter with a couple months of festivities. But will it make 41? Maybe not. Owner Piero Selvaggio has put the restaurant up for sale. The price is high -- $4.9 million – but it is an attractive piece of real estate with a lot of restaurant history attached.

"I have a big piece of real estate and it's not producing what it could produce," says the 67-year-old Selvaggio. Plus, he says, he's ready for a new challenge. "At this point I feel compelled to move on and do something simple, smaller and more exciting. Why should I not cash in my big asset, if it happens, and start fresh in a new environment?"

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Source: http://www.latimes.com/