PORTSMOUTH — Martingale Wharf Restaurant and Bar will be closed next month and sold to Michael Timothy’s Dining Group, which will also buy The Rosa Restaurant from city real estate developer Mark McNabb .

The Martingale Wharf at 99 Bow St. will shut down Monday, Nov. 3. Ownership will then be transferred to Michael Timothy’s Dining Group, owner of the downtown Surf restaurant and Buckley’s Market & Cafe , which is already set to replace the former Hearth Eatery & Bar at McNabb’s Brick Market building .

Michael Timothy’s Dining Group will assume ownership of The Rosa from Portsmouth Hospitality, McNabb’s company, on Dec. 31, marking the newest chapter in the Italian restaurant’s 98-year history.

Ian Buckley, vice president of Michael Timothy’s Dining Group, stated a new seafood

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