Thomas and Rhonda Lowe, longtime owners of Rock City Gardens, are suing Stanoy Tassev, who purchased the garden supplies business in January 2022 for failing to pay $1.35 million, which was the second half of the purchase price for the business, according to court documents.
The Lowes had been partners in the business since 1982 and became sole owners in 1985, operating under the name Rock City Nursery and Landscaping, Inc. It soon became a premier source of plants, trees and landscaping design and décor for barrier island residents over the next four decades.
The Lowes frequently lent out the lush, 8.7-acre property, which features a lake surrounded by mature trees and other foliage, for weddings and charity gala affairs.
Today, the company employs around 70 people.
The Lowes sold the property, located at 9080 U.S. 1, on Jan. 7, 2022 to Property Tass 6, LLC, for $595,000. Property Tass 6 is owned and managed by Tassev.
On the same date, Tassev, through Rock City Gardens, LLC, agreed to purchase the business itself for $2.7 million, according to the claim. Half was paid at closing. The second half was due on Jan. 7 of this year – the third anniversary of the closing date.
The Lowes are suing Tassev and Rock City Gardens, LLC, for breach of contract.
Photos by Joshua Kodis
