The Neptune Lounge operated as a straight bar until 1972 when James Bortzfield bought it from Bob Maley, at which time James re-opened the bar as a LGBTQ+ bar location.
The Neptune Lounge was known for its many events, especially performances by Lily White & Company. All events were usually themed, and you had to buy a ticket to attend:
”We had—we never had a Christmas party at that bar. All the other bars were open on Christmas, but I was always against that…But we had themed parties, of course. Military parties as you have seen in the pictures. Halloween parties and New Years—we were the only bar that didn’t have an open-door policy. You had to buy a ticket to get in, ahead of time. We only sold a hundred tickets and that’s it. It was open bar, so you didn’t have to bring any money and it was only 10 bucks.” – James Bortzfield Oral History
Bortzfield eventually expanded The Neptune Lounge into the adjoining buildings, which included buying the old Capital Grill. He later sold both businesses to Frank Idaccola and his partner Steven, who then re-named the restaurant portion The Paper Moon.