$50M bankruptcy sale in Miami’s Blue Lagoon falls apart as Caroline Weiss hospitalized
Jorge Ramos’ $50 million winning bid for a distressed Blue Lagoon development site owned by developer Caroline Weiss has run off the rails, and efforts to quickly secure a new buyer came up short this week. Two entities controlled by Weiss that own the 7-acre assemblage at 4865 Northwest Seventh Street tried to salvage the deal by having Ramos, who heads the Miami-based real estate firm Incomreal, assign his purchase agreement to Quantum Advisors, led by Seyed and Gabrielle Moghani in Miami. Quantum offered to buy the site with $35 million in financing from Miami-based Benworth Capital. But U.S. Bankruptcy […]This article originally appeared on The Real Deal. Click here to read the full story.
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