Source: Independent for AINews
By: Rick C. Limpert
(ATLANTA, GA) — When the U.S. Attorney’s emerged victorious with a victory over Steven Kaplan in the Gold Club trial, all appeared to be right in the eyes of the federal prosecutors.
What they didn’t know at that time was Kaplan didn’t own the Gold Club entirely. He is a 50/50 owner with 18 months remaining on a $700/month lease on the property. The club also currently is behind on back taxes and property rights by about $600,000.
The other fifty percent owner is a Greek family who has been reluctant to sell its share. The family currently has hired a real estate attorney in Atlanta to discuss the situation with the property.
The Feds are said to be ready to see the property once it can gain controll of the whole tract. MARTA, Atlanta’s rapid transit system is said to be interested as are office complex developers. Atlanta property appraisers have valued the site at around $2 million.
Rick C. Limpert is the owner of SBC Photography (www.sbcphotog.com) in Atlanta. He provided Gold Club trial coverage for AINews.com. He covers events in the Southeast for AINews and other publications. He can be reached at sbcphotog@aol.com
