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Shooter/Bootleggers going to auction.

Old 12-22-2012, 08:17 PM
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Originally Posted by Jupiter Sunsation View Post
Update: Last Wednesday, on Dec 5, an auction for Shooter's Waterfront Cafe and Bootlegger drew a $5.3 Million bid. FirstBank holds an $11.3 Million judgement. A bank appraisal listed the property value at $9.2 Million, while Shooter's owners listed it at roughly $6 million.

The winning bidder was FirstBank, who held greater than $11 million judgement against the place. I'm not sure how that works; if the bank now owes itself money, but it's not very exciting for us. Because basically nobody owns the place that's going to open anything that we should care about.

Shooters Waterfront Saloon has been an icon since back in the spring break days in the 80's, but soon it will be no more. They filed for bankruptcy in July.

So basically someone bid up to 5.299 and the bank stepped up and outbid them to retain the property but got a clear title in the process. Same thing happened with Hideaway Marina a few years back. Bank will then relist the property for sale and it is now lien free. 2+ years later the bank is still running Hideaway while still trying to sell the marina so this might happen with Shooters as well.
Correct. Property heading for a listing broker. I am trying to get a listing interview. Longshot, but I have an angle.

The board will know as soon as I do.
Your OSO connection to great S. Florida Real Estate.
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Old 12-23-2012, 10:11 AM
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Warning to anybody looking to have lunch at Shooters, it will cost you. I flew down last weekend to have lunch at Shooters and this followed me home.

Not mine went for a customer.
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