It takes more than fistfuls of cash and a groovy look to make a Downtown restaurant soar. Towne Food & Drink, Mi Piace owner Armen Shirvanian’s four-million dollar, 200-seat, 7,000-square-foot concept in Watermarke Tower, officially wheezed its last breath last Saturday, folding after only eight months (apparently Shirvanian sold his percentage in the business last fall). With a glam space that leaned towards a certain Bottega Louie-like grandiosity and a menu that could read like a desperate attempt to capitalize on the union of extreme eating and comfort food (chicken liver popcorn, bone marrow matzoh ball soup), Towne may have suffered from its general air of desperation and an inconsistent customer experience. L.A. Downtown News learns that the space is being taken over by a new owner, with plans to open in a couple months as a new concept with a new chef.