The imminent sale of the defunct Dublin Pub has been narrowed down to two bidders by its owners, according to the real estate executive who handled the July 24 auction.
“They are down to two bids,” said Misha Haghani, president of Paramount Realty.
Haghani said one of the bids being considered by Dublin Pub owners Stan Majewski and Scott Blitzer was the top bid at the July auction. The other bid was received shortly after the auction was held, Haghani said.
He declined to comment on the issues the bar owners were considering in weighing the two offers.
Haghani indicated he expected the owners to make a final choice between the two bids in the near future.
“It’s in everyone’s interests to get it done and get it done sooner than later,” he said.
Auction information prepared by Paramount set the opening bid for the bar property, which is located at 2002 Jericho Turnpike, at $899,000. The auction information also indicates an appraised value of $1.4 million as of October 2011.
Haghani said he received more inquiries about the property the day after the auction than he had received in the 10 days leading up to the auction.
He also said most of the post-auction inquiries were from people who had obtained information about the property before the bidding, but didn’t show up for the auction. He said there were fewer bidders at the auction than he had anticipated.
The state Liquor Authority board revoked the bar’s license on April 23 after suspending the license in late March for allegedly selling alcohol to underage customers on two recent occasions, according to state Liquor Authority spokesman William Crowley.
The state Liquor Authority had found the bar in violation of state liquor regulations on several occasions over the past decade.
In the suspension order issued in March, S & S Pub – the company that owned Dublin Pub – was also cited for failing to comply with conditions in a previous order.
Haghani said the state Liquor Authority in April had offered the owners two options – to fight the revocation or surrender the license and make an argument that they did no wrong.
“They voluntarily surrendered their liquor license and they have not attempted to get their license back because they don’t want to spend more money on it. So they’re stepping away,” Haghani said.
Haghani said Majewski and Blitzer had worked at the bar for several years before buying it from one of its four original owners in 2001. The partners had invested more than $1 million in the 6,441-square-foot facility, which had been a bar or a pub since 1936 and was operating as the Dublin Pub since 1968, Haghani said.
Efforts to reach Majewski and Blitzer were unavailing.