News about properties and real estate
Investor sues to bail out of four WCI condos A Virginia investor who bet on South Florida’s condo market in headier days is trying everything he can to get out of contracts on four Singer Island units and recover about $1.6 million in deposits. John Cherin has filed three federal lawsuits against Bonita Springs-based WCI …
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Entrepreneurs must pay $1.9 million Jury says couple who lost their building and businesses must honor guarantees they made to pay business debts Carolyn Waygood’s string of bad luck keeps extending. First she lost the 40,000-square-foot retail center she built on the Manatee River to foreclosure. Then she and her husband were evicted from their …
Retail builders feel credit pinch [Central Florida] The credit crunch triggered by subprime home mortgages gone bad has spilled into the retail shopping center industry. The word of tighter lending restrictions spread Monday among 5,500 retailers and developers gathered at the International Council of Shopping Centers’ annual Florida Dealmaking Conference in Orlando. The news came …
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Millionaire hopefuls’ cash gone with breeze [South Florida] In January, Ocean Land Investments of Boca Raton agreed to pay Briny trailer owners $510 million for their oceanfront property, a defiantly unpretentious middle-class oasis wedged amid mansions, high-priced condominiums and opulent hotels. Ocean Land planned a development featuring 900 condos, a 349-room hotel, a marina and …
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Sarasota YMCA entangled in unorthodox land deal [South Florida] A complex real estate deal between the Sarasota Family YMCA and one of its fundraising foundation board members made the charity at least $250,000. But the deal also turned out good for the board member, Sarasota attorney David Band. Together with four partners, Band sold half …
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Buying homes through short sales can lead to long waits Jamie Schmitt and Valerie Azinheira liked the two-bedroom house in San Francisco’s Merced Heights. It was near a nice park where their 3-year-old son, Gabriel, could play. They made a no-contingency offer for the full $629,000 listing price on June 20. Then they waited. And …
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