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

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

regulator: Bank Foreclosing Oceanfront Site Seized By Federal Regulators - 07/22/09 08:24 PM

Federal regulators have seized the South Dakota bank foreclosing on a nearly $12 million oceanfront condo development site in Greater Miami Beach.BankFirst of Sioux Falls, S.D., was shut on Friday, July 17, less than a month after the 14-year-old institution filed to foreclose on a 1.1-acre site development site located between Collins Avenue (State Road A1A) and the Atlantic Ocean.A 43-story tower featuring one unit per floor is proposed for the site located in the northeast Miami-Dade County city of Sunny Isles Beach, according to a CondoVultures.com article.The Federal Deposit Insurance Corp. estimates losses of $91 million from BankFirst's failure. Prior … (0 comments)

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