News about properties and real estate
As Foreclosures Mount, Condo Associations Battle With Lenders As bills mounted and revenue shrank, the board of Miami Beach’s luxury Bentley Bay condo knew it had to take drastic action. Facing a spike in delinquencies and the need to pay the bills, the Bentley’s condo association opted to take a hard line with lenders that …
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Real estate president buys out developer Sky Sotheby’s President Chad Roffers is buying the equity stake in the firm owned by developer Marvin Kaplan. Terms of the arrangement were not disclosed. The deal is expected to close this week, Roffers said. It marks the second time this year that Roffers has closed ranks in ownership …
Brokers on the fringe: Ex-convicts find niche Gary Kafka, former body builder with a long rap sheet and violent past, wrote millions of dollars in mortgages in South Florida without ever applying for a state license. Fresh out of prison after serving time for bank fraud, he never went through a criminal background check before …
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Developer of stalled hockey arena is out of time [South Florida] Yet the multimillionaire and former president of the AFLAC insurance company is probably best-known here for one of the most visible development flops in the region: the unfinished hockey arena in Lakewood Ranch. Now, as a July 28 foreclosure sale of the land approaches, …
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Novato the mortage meltdown epicenter of Marin [Northern California] Kids romping on lawns and workers trimming hedges belie the gloom that hovers over the sprawling Parkhaven complex bordering Miwok Park in northwestern Novato. “For sale” signs are plastered in some windows as 10 residences in the 104-unit development are on the market as foreclosures or …
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Glut in housing, lack of tenants mean better deals It’s a good time to look for an apartment. Lee County landlords have begun slashing rents and using other incentives to boost sagging occupancy rates brought on by a limp economy. “It’s a smorgasbord of concessions,” said David Malt, broker for Malt Realty, a Fort Myers-based …