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The 85-year old steak house is being bought by Dean Poll, owner of the Loeb Boathouse restaurant in Central Park.

It was originally scheduled to close January 16, after the previous owner filed a closing notice in October.

Wall-to-wall photos attest to the history of the Broadway restaurant, which has played host to actors, presidents, musicians and athletes.

Management said that despite the new ownership, the look and feel of Gallagher's will remain pretty much the same.

"Why change it?" said Jonathan Young, the general manager of Gallagher's Steakhouse. "It just needed a little bit of new life and keep going. Every restaurant has its ebbs and flows, and now we're ready to go right back up again."

Gallagher's was previously owned by Marlene Brody, who took over after her husband Jerome's death in 2001.