Long Beach
A special bankruptcy auction to sell the Pacific Coast Club, a vacant and deteriorating landmark, produced no minimum $4-million bids Tuesday.
But Realtor Richard Gaylord, who is handling the 59-year-old club and its 1.5 beachfront acres, appraised last summer at $6 million, said three of his clients are “very serious” about the property.
“Two said that I would hear from them within the next couple of days with an offer,” Gaylord said Wednesday.
The two have said they would restore the club, making it a hotel with retail shops, he said. Several potential developers have said they would raze the club and build condominiums, said Gaylord.
Claims against the club’s bankrupt owner, Josef Janota of Beverly Hills, total more than $3 million. The property was auctioned in October for $7.3 million, but the buyer did not follow through.
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