CLEVELAND, Ohio - The deal to sell the storied Phantasy Nightclub fell through at the last minute on Tuesday, the day it was supposed to be finalized.

Owner Michele De Frasia, whose family has owned the venue for more than 50 years, said the Lakewood complex on Detroit Avenue, which also includes the Symposium and the Chamber as well as the Phantasy Theater, said the deal had been in the works since April, and was confirmed in July.

De Frasia, in a telephone interview, said the buyer pulled out of the deal.

De Frasia took to Facebook to express her disappointment in the process, and to thank those who have supported her, her family and the venue since her father, John A. De Frasia, opened it as a restaurant in 1965.

"As we headed into the final weekend of the Phantasy, we were getting jittery over this deal,'' De Frasia wrote. "Over a matter of days and hours, something just didn't seem right to me and my family, but we continued ahead, thinking it would go through.

"We were wrong,'' she wrote.

This Labor Day weekend, the Phantasy staged a massive blowout finale, headlined by Cleveland's Death of Samantha, to say good-bye to the historic Lakewood venue. Fans flocked to the club, sharing music and memories in about equal amounts.

But having been convinced that the deal was solid, De Frasia had booked no more shows in the club, so it will be dark for September. But because of the way the real estate business works - if there is a quick sale, there's usually 60-day period between offer and handing over the keys - De Frasia said she will start booking shows for October.

But De Frasia said she remains intent on getting out of the nightclub business.

"I need to [and] my family needs to,'' De Frasia said. "It takes a lot out of you.''

De Frasia, who was an art major at Bowling Green, plans to return to her first love: art.

Rachele Glynias, who is handling the sale for Howard Hanna, said there are two interested buyers in the property, which originally was listed for $1.2 million. The actual sale price that had been agreed to had not been revealed.

Glynias said she was prohibited by law from naming them, but said one is a developer who "could pull the trigger tomorrow" and has all the financing in place. The second is a local music person who has more at least 30 years in the music business here.

That person is in the "discovery" portion of her potential investment, Glynias said, so both potential buyers are aware of the other. That means a quick sale could be likely. Regardless, the online virtual tour will be back on her website, racheleglynias@howardhanna.com, on Friday.