Atlantic Southern buys Capricorn property

Atlantic Southern Bank, which owned the note on the property that was once home to Capricorn Records, bought the building at public auction Tuesday.

Randy Griffin, senior vice president of the bank, said the bank bought it for $360,000. The bank hopes to sell the property as soon as possible, Griffin said.

The building, located at 548 Martin Luther King Jr. Blvd., was once the home of Phil Walden’s Capricorn label and was the recording studio where bands such as The Allman Brothers cut albums.

The property was owned most recently by Macon physician Alan Justice, who had hoped to restore the property into a functioning recording studio, mini-museum and cafe, but the economic downturn stopped those plans.Griffin said he hopes any future owner would be able to follow through on those plans.

The property is among 25 finalists for the Georgia Trust For Historic Preservation’s 2010 Places In Peril list, which will be announced today.