Another Dan Kodsi Miami dev site is facing foreclosure
After securing a reprieve in a foreclosure case involving his Miami Worldcenter development, Dan Kodsi could lose another project site in the city to a lender. On Sept. 5, an affiliate of Delray Beach-based Forman Capital, led by Brett Forman and Ben Jacobson, sued two Kodsi-managed entities that own a 0.5-acre assemblage at 1317-1352 North Miami Avenue where the Miami-based developer is planning a 30-story condo-hotel. The foreclosure complaint, filed in Miami-Dade Circuit Court, alleges that the Kodsi entities defaulted on an $8.3 million bridge loan that matured on Aug. 16. Forman Capital is also seeking default interest and fees […]This article originally appeared on The Real Deal. Click here to read the full story.
Recent Posts
Buyer of Wynwood office building alleges “dangerous conditions” and “Band-Aid” repairs in suit against East End
Golden Beach spec home asking $80M tops signed contracts in Miami-Dade
BH, Lennar tap Elliman to sell single-family homes on former golf course west of Aventura
Oceanfront mansion lists for $195M in potential Palm Beach record
Resi roundup: Architect’s landmark Palm Beach home sells for $28M, waterfront mansion goes for $27M
Marina showdown: Inside the proposed $80M redevelopment of Rickenbacker Marina, Marine Stadium Marina
South Florida’s top deals: Former Pfizer exec sells Palm Beach home for $27M
Wealth building starts with behavior, expert tells Realtors
BREAKING NEWS: Florida Realtors supports property tax reform
South Florida Dirt: Mandarin Oriental Boca Raton developer fires back
