An Atlantic City developer has paid off his half-million-dollar debt after a warrant was issued for his arrest last week.
Bart Blatstein faced an arrest warrant after he failed to pay $532,933.35 he owes to Lee-Way Electrical for work done at the Showboat Resort garage and the property at 801 Boardwalk that includes the Island Waterpark.
The warrant issued Wednesday by Judge John Porto did not look to jail Blatstein, but instead to get him before a judge for further order from the court, it states.
It turns out, the arrest was not necessary.
Blatstein learned of the warrant Sunday, after BreakingAC reached out to him.
A representative for Blatstein promised the issue would be resolved in court Monday morning without an arrest.
“The case is being settled in full with payment,” BreakingAC was told Sunday.
That did happen, court records confirm.
"Please accept this correspondence as notice that Plaintiff has received documentation from the Defendants that they have initiated a wire for the amount of the Judgment entered in this matter," Lee-Way attorney, Timothy Bloh, wrote to the court Monday.
There is a three-day waiting period to confirm receipt, and at that time, the plaintiff will withdraw the arrest warrant, Bloh wrote.
Until then, the plaintiff asked that no arrest be made.
The repayment had been promised before, according to a lawsuit filed by Lee-Way last July.
Blatstein and his companies Accelerated Construction Company and Tower Investments originally owed more than $725,000 to the Buena-based electrical contractor.
The sides reached a payment agreement Jan. 19, 2024, with $100,000 paid and then $50,000 due monthly until the debt was settled.
Blatstein made the monthly installments that April and May before the payments stopped, according to the lawsuit.
That led to Lee-Way winning a summary judgment this past March, with Judge Danielle Walcoff ordering Blatstein and his companies to pay a total of $532,933.35, including attorneys’ fees and court costs.
But the money did not come.
Blatstein’s attorney was then sent an information subpoena, which requires a debtor to answer questions about their assets.
Emails and hard copies sent April 1 and April 15 went unanswered, according to the filings that included copies of the emails and questions.
Lee-Way’s attorney then filed to have the court intervene, eventually leading to the warrant being issued. It includes Blatstein’s home address in Margate.
The state has been supportive of the work being done at the Showboat property.
The New Jersey Economic Development Authority Board approved a $4.2 million Atlantic City Revitalization Grant Program award to support the expansion of the Showboat Family Entertainment Center.
The center “has ushered in a new era for Atlantic City – one that offers attractions for families with children of all ages,” Department of Community Affairs Commissioner Jacquelyn Suárez said at the time. “We’re excited by the success of the family-friendly Showboat and are thrilled it is already expanding to include more attractions for kids and the young at heart. This venue demonstrates that creative projects can flourish in Atlantic City and that the Murphy administration stands ready to support such projects that positively impact the community.”
Blatstein at the time said that the Showboat was thrilled with the state’s support “in furthering year-round family friendly entertainment in Atlantic City.”
A media tour of the Showboat expansion project set for Monday morning was postponed, according to a notice sent to news outlets Sunday evening.
Neither a new date nor a reason for the postponement was given. BreakingAC previously was told that Blatstein was not scheduled to attend.
Ducktown Tavern owner John Exadaktilos was first to announce that the warrant was issued during a Facebook livestream Saturday.
He questioned the state’s economic support of Blatstein and why the city — and specifically Mayor Marty Small — continue to do business with him despite similar issues of alleged failures to pay being raised.
Small last month posted on Facebook about a campaign fundraiser held for him at Blatstein's Philadelphia home.
