A popular St. Pete hangout is being sued for failing to make payments on a loan. Owners of The Amsterdam on Central Avenue in the burgeoning Edge district owe $50,000 plus interest.
In April of 2013 owner John Cullen borrowed the money from his neighbors Buford and Patricia Simpson. In a Promissory Note filed along with the lawsuit, Cullen agreed to make annual payments of just more than $3,000 for seven years, with the remaining balance due at the end of that term.
The payments were set to begin on May 21 this year, however, according to the lawsuit, Cullen has failed to make a payment.
Cullen agreed to pay 6 percent interest on the loan. More than $56,000 is now owed. The now widowed Patricia Simpson is seeking full payment plus “reasonable” attorney’s fees.
The European-inspired bar opened in 2013. It features beer, wine and mead in an upscale, yet laid back, environment. In an article on Patch.com published prior to the bar opening, The Amsterdam is described as “clubby, but not being a dive.”
The laid-back bar nestled along the round-about on Central Avenue is also dog friendly. The bar’s Facebook page says a special “Bowser Brown Ale Beer” is coming soon for dogs. It’s a non-alcoholic gravy-type beverage for bar-goers’ four-legged friends.
It’s unclear whether the bar is having financial trouble. The Amsterdam has frequent events like bacon contests and live music. It’s co-owned by Cullen’s partner, Zoie Torres.
Torres is not named in the lawsuit.