"The Gulfstream Hotel, the historic Lake Worth property on Lake Avenue, remains shuttered, its potential unrealized. Asset Holding Company 5 LLC filed a foreclosure lawsuit against CSC Lake Worth Limited Partnership on Aug. 11 in Palm Beach County Circuit Court. The lawsuit seeks repayment of a $12 million loan, plus the foreclosure of the hotel property." Read more about it HERE
Our own Planning and Zoning Board, and member at the time Lisa Maxwell, now a candidate for District 4 running against Commissioner Suzanne Mulvehill, allowed the owner of the Gulfstream, Ceebraid and Adam Schlesinger, to jerk the City of Lake Worth around granting them variance after variance and plan change after plan change just so that we could witness delay after delay. Schlesinger was hoping that the economy would turn in his favor. Our P&Z bent over backwards in accommodating the owner.
Read blog on the Gulfstream Hotel.
Back in July 2005, Schlesinger bought the historic hotel for $12,910,000 paying over double what it sold for only two years before. The hotel is 13,500 sq. ft. situated on 0.399 acres directly across from the Intracoastal Waterway and Bryant Park.
In the meantime, it has been over 5 years that the City of Lake Worth has been without a hotel. Schlesinger says he is trying to "work out" his loan problem.
Charles Celi filed a complaint and it went to an Appeal. Jennings, Golden and Mulvehill voted to grant his appeal and to reverse the approval of the Planning & Zoning Board regarding Schlesinger’s request for a time extension on the Gulfstream Hotel. Read what happened. Celi got the 3 to 2 vote but lost anyway. Clemens and Lowe dissented...just another BAD (corrupt) vote by former Mayor Jeff Clemens who is now running for House District 89 against Steven Rosenblum.
So, now we have the Gulfstream Hotel in foreclosure and Schlesinger owing everyone in the world big bucks. He sure can't claim that the Planning & Zoning Board and Lisa Maxwell or Mayor Clemens didn't do everything possible to vote in his favor against the best interests of Lake Worth.