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Report: Conflict between billionaires over Nantucket restaurant now resolved
Charles Johnson and Stephen Karp reportedly met recently to end a feud that concerned a new restaurant's proximity to Johnson's Nantucket home.
The billionaire battle playing out over a Nantucket restaurant has finally concluded, according to new reports.
Charles Johnson, a 90-year-old who made his fortune in leading investment firm Franklin Resources and is now principal owner of the San Francisco Giants, took issue with a new restaurant that was opening in close proximity to a home he owns on Old North Wharf. As part of the resuscitation of the Straight Wharf Fish Store, local restaurateurs sought the addition of a full-service eatery.
In an interview with The Nantucket Current last month, Johnson singled out Stephen Karp, the billionaire who oversees Nantucket Island Resorts. Karp owns many Nantucket properties including the restaurant.
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But this week, the Current reported that Johnson and Karp had met privately to resolve their feud.
“Charlie and I have shaken hands as neighbors and we look forward to the opportunity next summer to enjoy a shared dinner of clams over a beer at Gabriel’s new restaurant,” Karp told the Current.
The conflict had been brewing since at least March. In May, Johnson asked Nantucket Superior Court to invalidate the restaurant’s liquor license. In a complaint, Johnson said officials disregarded the negative effect the restaurant would have on abutting residences, and that it would generate traffic, noise, and parking problems.
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Johnson also claimed local officials “ignored the applicant’s misrepresentations on the building permit applications as to the nature and scope of the renovations and use of the premises.”
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Speaking with the Current last month, Johnson said the main sticking point was just one aspect of the new building: an exterior mechanical system that was installed on a side of the restaurant overlooking Johnson’s property. Johnson said he did not want fumes from the commercial kitchen flowing right into his property, and had concerns about the noise it might generate. Those in charge of the restaurant said it was simply the establishment’s HVAC system, and would be properly screened in.
At their meeting, Johnson and Karp walked to view the site together and concluded that the mechanical system would be moved to another part of the building, pending approval from local officials. Karp had not seen the design in person, the Current reported.
Johnson told the outlet that, once Karp saw the situation for himself, he “acted immediately and responsibly.”
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