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The Equitable Building, at 915 F Street NW, has had a troubled history as of late. Its last use, the Platinum nightclub, closed in 2009 after a shooting (and after its owner was convicted of tax evasion). The next buyers wanted to turn into a classier kind of enterprise, but never got it off the ground, and then got slammed with a $300,000 lien for failing to pay their contractor.
No stranger to tax evasion and contractors liens, Douglas Development has stepped in to buy the property—at half the last purchase price of $10 million dollars, according to a deed filed last Friday. And it’s already got a For Lease sign on it!
According to property records, Douglas has assigned all leases, rents, and profits to the Army and Air Force Mutual Aid Association—-the same financing partner involved in the purchase of the debt on the Hechts Building, which Douglas later did buy at auction (and is already for lease as well).
We’re sure proud new owner Doug Jemal, whose representative was unavailable to comment yesterday and today, will get around to paying his other debt eventually.