Eager buyers keep eye on Holiday Isle resort deal
The pending sale of Islamorada’s Holiday Isle may be stalled, but other potential buyers are eager to swoop in. Either way, this might be its last spring break, since a luxury rebuild is a likely outcome.
Four would-be buyers are hovering around the troubled sales talks involving Islamorada’s Holiday Isle resort in hopes the deal falls through, a representative of the owner said. A federal bankruptcy-court judge on Friday granted a West Palm Beach developer an extension on its $98 million purchase contract for the famed honky-tonk resort on the ocean.
An entity controlled by Ceebraid-Signal filed for bankruptcy protection in February in a last-ditch effort to secure financing before the contract expired. Judge Paul Hyman on Friday agreed to give Ceebraid until April 28 to close on the sale.