I checked the following names:
james alefntis, big cheese, and comet ping pong.
All I am coming up with are personal R.E. records of deeds and satisfaction documents for various residential properties for james and brock.
Are there any other names that you know of that I can search?
Outstanding! The $1.44 million loan number stuck with me, as it logically follows a 20% deposit on a $1.8 million purchase.
It is my contention that Comet can in no way generate the sales needed to amortize such a loan. Commercial loans are for a shorter term, and have a higher interest rate than homeowner loans.
Further, when Alefantis bought the property, he spent a year and a half on renovating to his peculiar tastes before he opened. With payments certainly coming due in that time, this raises another red flag. Where did the money come from?
A mere 8 years later, he allows it to go to tax sale? It suggests that there was no longer a lien at that point.
One of the reasons Trust Deeds have become widely used is for circumstances like this. If the property was still under lien, the lender could move quickly. This suggests to me that the mortgage was repaid at that point.
Amortizing a loan of that amount in such a time frame would require payments well beyond any net receipts Comet could generate. Yet at the same time, an 8 year term is common in commercial loans.
There are also statements from Alefantis that when he first opened Comet, no one came. He petitioned in 2008 for extended hours and live music, in order to make his business profitable. This gives us at least three years, at the beginning of the loan term, when he was operating in the red. Not much chance to bring down the principle during that time.
Your thoughts on this would be very much appreciated. Please accept my thanks for grabbing and forwarding the image. My login attempt failed, so otherwise I'd have nothing to cement my suspicions.
A little reminder from a former business owner.... one of the very first things that struck me about Comet Pizza and the shopping center its in.... You should never ever find two of the same type business in the same strip center. I tried many times to lease from strip centers and even though our Halotherapy Spa only did an occasional massage in the Halotherapy rooms, No strip center owner/agent would let me lease in the center even when the other business may be 50 stores down and on the other side or whatever. That was one of my first indications when this all started that somethings not kosher. Do we know who owns that strip center? Do we know what Alfentis did before comet pizza? What makes him one of the most powerful men in WA?
And beyond business types, look at the clustering of alcohol licenses. Comet, Buck's, Little Red Fox, Politics And Prose. Even Besta had made an application, from a posted comment someone said they saw on Besta's door. Alcohol control boards exist to control alcohol, but this block seems to get whatever they want.
Interesting thought... I wonder how much they each paid for their license.. very expensive.... We need someone wiht ground penetrating radar to find these tunnels
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RumplestiltskiaAT ago
Lurker here that recently joined. I am still learning the rules/terminology here.
I do however have access to Maryland real estate records and transactions with full 'Deed of Trust' info if this is needed in the future.
Also, the term 'Judiciary case search XXXXXX' (insert State name) works for all the states I've tried.
Works in Maryland, DC, and Virginia so far..
Ex. http://casesearch.courts.state.md.us/casesearch/
oldskeptic ago
Can you confirm that the Comet property was purchased with the aid of a $1.44 million loan from EagleBank?
RumplestiltskiaAT ago
I'm only subscribed in Maryland but i'll see what I can find on the DC sites.
I did find this site, It says 5037 Conn Ave is '2' floors and was last sold on June 3, 2005 for $1,800,000.
http://commercial-real-estate.findthedata.com/l/113710/5037-Connecticut-Ave-NW-Washington-DC-20008
oldskeptic ago
Thanks for the reply. I'm interested in liens recorded against these properties. Hope you find something. Good luck.
RumplestiltskiaAT ago
I checked the following names: james alefntis, big cheese, and comet ping pong. All I am coming up with are personal R.E. records of deeds and satisfaction documents for various residential properties for james and brock.
Are there any other names that you know of that I can search?
It does not give the option to search by address.
oldskeptic ago
Whatever is published in property records for Alefantis, Brock, or the Podesta brothers. That's a good start.
RumplestiltskiaAT ago
Ok, I found what you were looking for: Lender: Eagle Bank Address 5037 Connecticut ave NW Loan Amount: $1,440,000
It's poor quality and DC wants a $fee to download each document but here's a screen shot http://postimg.org/image/lam5n3769/
Also, you can go here https://gov.propertyinfo.com/dc-washington/ and log in (user name is Tuxx) (P/W is DC123!) and see the entire document(s)
It's listed under **CHRISTOPHER ACHILLES LLC ** It's the 2nd from the bottom document# 2005086431 Labeled 'Trust'
oldskeptic ago
Outstanding! The $1.44 million loan number stuck with me, as it logically follows a 20% deposit on a $1.8 million purchase.
It is my contention that Comet can in no way generate the sales needed to amortize such a loan. Commercial loans are for a shorter term, and have a higher interest rate than homeowner loans.
Further, when Alefantis bought the property, he spent a year and a half on renovating to his peculiar tastes before he opened. With payments certainly coming due in that time, this raises another red flag. Where did the money come from?
Also, please review this submission: https://voat.co/v/pizzagate/1472762
A mere 8 years later, he allows it to go to tax sale? It suggests that there was no longer a lien at that point.
One of the reasons Trust Deeds have become widely used is for circumstances like this. If the property was still under lien, the lender could move quickly. This suggests to me that the mortgage was repaid at that point.
Amortizing a loan of that amount in such a time frame would require payments well beyond any net receipts Comet could generate. Yet at the same time, an 8 year term is common in commercial loans.
There are also statements from Alefantis that when he first opened Comet, no one came. He petitioned in 2008 for extended hours and live music, in order to make his business profitable. This gives us at least three years, at the beginning of the loan term, when he was operating in the red. Not much chance to bring down the principle during that time.
Your thoughts on this would be very much appreciated. Please accept my thanks for grabbing and forwarding the image. My login attempt failed, so otherwise I'd have nothing to cement my suspicions.
JoJoVoat ago
A little reminder from a former business owner.... one of the very first things that struck me about Comet Pizza and the shopping center its in.... You should never ever find two of the same type business in the same strip center. I tried many times to lease from strip centers and even though our Halotherapy Spa only did an occasional massage in the Halotherapy rooms, No strip center owner/agent would let me lease in the center even when the other business may be 50 stores down and on the other side or whatever. That was one of my first indications when this all started that somethings not kosher. Do we know who owns that strip center? Do we know what Alfentis did before comet pizza? What makes him one of the most powerful men in WA?
oldskeptic ago
And beyond business types, look at the clustering of alcohol licenses. Comet, Buck's, Little Red Fox, Politics And Prose. Even Besta had made an application, from a posted comment someone said they saw on Besta's door. Alcohol control boards exist to control alcohol, but this block seems to get whatever they want.
JoJoVoat ago
Interesting thought... I wonder how much they each paid for their license.. very expensive.... We need someone wiht ground penetrating radar to find these tunnels