News about properties and real estate
Towers developer defaults on loan [Southern California] Developer John Saca Wednesday said he has defaulted on a $22 million loan he used to buy the downtown land where he broke ground last year for two 53-story condominium and hotel towers. The default — the first step in a foreclosure — doesn’t necessarily mean the development …
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Coast Bank will continue Tringali tract foreclosure [South Florida] Coast Bank of Florida passed on the chance to unload a property for less than a third of what the bank loaned on it. So the bank’s foreclosure against developer Michael Tringali will continue. An auction Thursday evening generated just two bids for the 253-acre tract …
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Investors see fast-bucks plan unravel Investment firm helped many join CCI home-building deal Hundreds turned out to a Long Island Marriott Hotel to hear one of several presentations that led many northeastern investors into perhaps the biggest financial catastrophe of their lives. So many people showed up for the monthly meeting of the Long Island …
Ease our tax burden, lawmakers are urged [South Florida] Taxpayers asked their state lawmakers to come up with a plan to lessen the property tax burden on homeowners and businesses. Madeleine Hernandez stood at the microphone and told the crowd of 100 Miami-Dade and Broward taxpayers gathered at a town hall meeting about the toll …
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Condo rules clash with market realities When some owners of condos in Pelican Cove wanted to hold an open house to help with sluggish sales, it set off a storm of controversy. Barbara Simons gazes at the serene view of Sarasota Bay that dominates the condominium she inherited from her mother, a spacious second-story waterfront …
Where has the money gone? [South Florida] The arrest of Sarasota businessman Daniel Prewett has investors worried. Dr. Wayne Cohen and his wife invested $462,000 with Daniel Prewett, so the Cohens had reason to be alarmed when they heard Prewett had been arrested on a federal money laundering charge. The couple had given Prewett the …
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