What caught my eye in the Palm Beach Post Sunday's edition was that Adam Schlesinger was back in the news. He and his companies are involved in the Ambassador Hotel Cooperative Apartments on S. Ocean Boulevard and have just been sued by them. It is stated that he is using a lot of scare tactics pressuring people to sell their units to him.
If you recall, the Schlesinger family was highly entrenched in our city at one time regarding 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. It has 106 rooms in 65,456 square-feet and most rooms have a water view.
Adam Schlesinger came before a former Planning & Zoning Board on numerous occasions as well as the City Commission while Jeff Clemens was mayor. He was crying the blues that he couldn't get financing but NO one on the P&Z Board back then, (Lisa Maxwell, former candidate for District 4, Wes Blackman, former candidate for District 3 and Phil Spinelli to name a few), asked him to prove what he said--none of them even asked. They took him at his "word." They continued to give him extension after extension and allowed the Gulfstream to languish.
This is a hotel that survived the Great Depression but did not survive the financial depression we had. Asset Holding Company 5 LLC filed a foreclosure lawsuit against CSC Lake Worth Limited Partnership (Schlesinger) on August 11, 2010 in Palm Beach County Circuit Court. The lawsuit sought repayment of a $12 million loan, plus the foreclosure of the hotel property." In May 2010, it sold for $7,225,000 to HH GULFSTREAM LAND HOLDINGS LLC (Hudson Holdings). Another suit ensued and Carl DeSantis now owns the Gulfstream Hotel. Where is Steven Michael these days?
Read about Schlesinger... in Sunday's Palm Beach Post. In the meantime, the hotel, once an icon of our city, is still in limbo all these years later.
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