South Florida Business Journal
The Goldfinger strip club in Riviera Beach could be stripped of its property.
North Miami Beach-based JC Investment Funding filed a foreclosure action against MCJC Development, IGF Entertainment and managing members Michael Del Percio and Leonard Del Percio. The two men are listed in state records as among the managing members of Goldfinger's North.
The strip club occupies the 6,000-square-foot building at 8340 Resource Drive. The one-acre site was purchased by MCJC for $1 million in 2003 and the building was completed several years later. In October 2007, MCJC obtained a $3 million mortgage from JC Investment that would expire in two years unless extended.
Paul Martin, the Hollywood attorney for JC Investment as well as its registered agent and managing member, didn't immediately return a call seeking comment.
Comments
A Chapter 11 bankruptcy filing might stop the foreclosure, dependding on the facts and Florida law. Look for the club to operate under Chapter 11 in the near future. Maybe the should apply for a federal bailout since they are providing much needed stress relief to South Florida realtors.
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