The auction of the three bars and nightclubs at the Belvedere Grand Condominiums in midtown Baltimore was reworked yesterday after the owner of the nightspots and his lender settled most of the disagreements that had led to a foreclosure suit and the scheduling of the auction.
PD Nightclub entrepreneur Dion Dorizas agreed to let the 13th-floor
Skyline Cafe go to auction yesterday in exchange for a $150,000 credit on the more than $500,000 he owed to his lender, California-based FMLC Inc.
FMLC bought the space back at the auction for $150,000, said Paul Cooper, an auctioneer at Alex Cooper Auctioneers Inc. in Towson, which conducted the bidding.
But Mr. Dorizas' Metropolitan Realty Inc. retained control of the other two establishments in the condominium building at Charles
and Chase streets, formerly the Belvedere Hotel. The Owl Bar and Club Renaissance remain open, he said.
The debt that financed Mr. Dorizas' purchase of the space in which he reopened the clubs last year had been about $55,000 in arrears. But Mr. Dorizas claimed that the condominium's developers, Belvedere Realty, owed him that much for promised improvements, commissions and repairs. Mr. Dorizas said settlement talks that started out tense became more amicable once he was able to meet with FMLC's lawyers in person.
"Once we sat down person to person, the whole attitude was very different," he said.
He said he was happy with the settlement because the 13th-floor club had done poorly since reopening, but had been impossible to sell because it operated under the same liquor license as the lobby-level clubs, and the license had not been for sale.