According to the Boston Herald, the former King Arthur’s Strip Club building changed hands on Tuesday when it was purchased by a Quincy-based former produce wholesaler, surpassing a bid from Revere businessman Charlie Lightbody, who faces indictment on wire fraud charges stemming from the Wynn casino land transaction.
The property sold for $1.35 million to Demetrios Vardakostas, who previously operated Bostonia Produce from the Produce Center, the Herald reported. The auction took place on-site, with Lightbody’s competing bid reaching $1.3 million.
Last summer, the Chelsea License Commission revoked all licenses held by the club, including its liquor license. However, any future operation as a strip club or bar would require the new owner to obtain an entirely fresh licensing approval from the Commission.
Vardakostas indicated he had no plans to operate a bar or club at the location. Instead, he expressed interest in developing a potential hotel to serve the nearby Wynn casino in Everett.
Outgoing City Manager Jay Ash expressed satisfaction with the sale as he prepares to depart. “fblikebutton_button” “I’m happy to see that chapter in the city’s history come to an end,” he stated. “The building has been both a physical blight and a psychological burden on the city for far too long. We’ve done so much to improve our image and our economy and I’m glad to see this building going into new ownership with new potential to be part of the new Chelsea.” “fblikebutton_button”
A pending lawsuit remains filed against the Chelsea License Commission by the former King Arthur’s operators, challenging the removal of both the liquor and entertainment licenses. The building’s sale appears unlikely to impact the outcome of those legal proceedings.