Real estate blog entries tagged with firstbank by Condo Vultures® LLC

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Home : Blogs : Condo Vultures® LLC : Strategies of the Condo Vultures® : Tag "firstbank"

firstbank: 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)

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