M3 restaurant closed due to seizure

[ron_newman]

M3 restaurant, at Highland Ave and Cutter Ave, has big orange SEIZED signs plastered all over the doors and windows.

A notice left at the front door says that the Constable's Office seized the restaurant on behalf of landlord Christos Poutahidis, because the restaurant owes the landlord $25,238.

Comments

Re: that guy...

[rachelmello.livejournal.com]

...my point being that he can absorb a loss on Property B while making a huge profit on Property A, as long as within 3 - 5 years someone comes along and makes a bad business decision to rent at his inflated rates that will cover his losses. They can make a go of it for a year or two, he makes back his losses, they go out of business, and the cycle starts again. That's a perfectly successful business strategy for the developer that is actively damaging to the city. The laws should not be structured such that people can make lots of money off property in ways that actively harm the people who live here.