There simply is nothing YOU can do to convince or coerce the guy to do the right thing. I believe you need to try to find neighboring Thai people who are also bothered by the noise. They may be able to do something. If there are none, or they are unable or unwilling to, then it's hopeless.
I suspect paying the guy to turn the noise down, or relocate, or sell out to you will only result in what always results from what is essentially blackmail (or a protection racket). Down the road, he or someone else will do the same and expect payment again.