A downtown bar is being sold to an investment group, documents filed with Montgomery County Recorder Willis E. Blackshear’s Office say.
Hats off Investment Group is spending nearly $400,000 to buy 101 St. Clair St. and 118 E. Fourth St. from Dellsa Development Corp. owned by Scott Edsall of Dayton.
The Fourth Street property is a paved lot.
The St. Clair address is the former home of Club Vex, which became Cloverdale dance club in July 2016.
>> MORE: Vex nightclub is no more
Cloverdale closed at the end of the year.
>> MORE: Dayton nightclub closes again
A downtown resident is listed as Hats Off’s authorized agent on a deed contract filed Dec. 28 with the recorder’s office, but Hat’s Off representatives say that name was listed in error.
Messages were left for Dellsa Development attorney Theresa A. Baker.
Joseph C. Lucas, the attorney for Hats Off, said his clients are developing their vision for the property and would comment at a later time.
As part of a deed contract, a buyer pays the seller for the property in monthly installments.
Hats off agreed to pay $383,138 for the properties.
It was to immediately pay $106,640 in back taxes to the Montgomery County Treasure’s Office for the former Cloverdale building and $85,222 for back taxes on the lot.
The balance, $275,000 is to be paid to Dellsa in $6,458 monthly installments over 48 months.
One of two lump sum payments of $20,000 was due on Jan. 29. A second payment is due Feb. 29.