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condo tower: South Dakota Bank Files $12M Foreclosure On Oceanfront Site In Miami Beach Area - 07/16/09 08:49 AM
A $12 million foreclosure action has been launched against an oceanfront development site in Sunny Isles Beach that is to house a proposed 43-story luxury condominium tower featuring only one unit per floor, according to the Condo Vultures® Foreclosure DatabaseTM.BankFirst of Sioux Falls, S.D., filed the foreclosure action, also known as a Lis Pendens and/or Notice of Default, in Miami-Dade Circuit Court seeking repayment of $11.7 million on a predevelopment loan originated in 2006. BankFirst's loan is secured by a 1.1-acre development site located between Collins Avenue (State Road A1A) and the Atlantic Ocean.Originally purchased for $9 million, or $181 per … (1 comments)

condo tower: Downtown Miami Condo Tower Site Being Foreclosed - 02/18/09 09:54 AM
The site of the proposed 68-story Paramount Park condominium tower in Downtown Miami is being foreclosed by a Kansas lender that is owed $21.2 million, according to Miami-Dade County Clerk of the Court records.Hillcrest Bank in Overland Park, Kan., has filed a Lis Pendens action - the first step in the long foreclosure process - against the owner of the 72,450-square-foot lot at 700 Biscayne Boulevard, immediately east of the AmericanAirlines Arena in Downtown Miami.Royal Palm 700 Biscayne LLC obtained permission in 2006 to build a mixed-use project standing 756 feet tall and featuring 300 condominium units and 286 hotel rooms. … (0 comments)

 
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