Turkish developer loses North Miami Beach apartment tower dev site to lender
Four years after scoring approval for a 354-unit luxury apartment tower in North Miami Beach, developer Celal Ozkan lost the site to the lender in bankruptcy court. An affiliate of CEO Contract, led by Ozkan, will turn over the nearly 1-acre site at 16300 Northeast 19th Avenue to Miami Beach-based Safe Harbor Equity, which had provided an $8.5 million loan for the site in 2022, according to court records. CEO Contract has offices in Istanbul and New Castle, Delaware. Federal bankruptcy court Judge Laurel M. Isicoff in Miami approved the sale last week to Safe Harbor’s distressed debt fund 3. […]This article originally appeared on The Real Deal. Click here to read the full story.
Recent Posts
Blue Jays’ Mad Max sells under-construction Admirals Cove estate for $23M
Butters targets tech, pharma with plans for low-rise light-industrial in Boca Raton
Opterra’s Holiday Inn hotel-to-resi conversion moves ahead in Boca Raton
Inventory drops for first time since 2023 as sales rebound across coastal Miami, beaches
Brian Tuttle loses Main Street dev site in $60M bankruptcy sale
Wave Group, partners launch short-term-rental friendly Wynwood condos
Ultra-luxury brings heat as Palm Beach home sales surge
Why Earnest Money Matters to Sellers
RE Q&A: Who Pays for Noncompliant Fence?
Fla.’s March, 1Q Housing: Closed, Pending Sales Up
