News about properties and real estate
$510 million Briny Breezes deal collapses A dream of riches, a shimmering city by the sea, a final battle for Florida. The story is over. At least for now. Two years after a wealthy suitor came courting, eight months after $510 million became too good a deal to pass up, and 17 days after the …
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Statewide bankruptcy involves condo [South Florida] In Southwest Florida, Warren Hickernell was the king of condo conversions. But his $60 million in deals to convert motels rooms and apartments from Manasota Key to Anna Maria Island was child’s play compared with the more than $200 million in apartment building conversions that Hialeah businessman Juan Puig …
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Condos can’t post names of people late paying fees, attorneys say [South Florida] It’s a common problem. When your neighbors don’t pay their maintenance and assessments for months at a time, the rest of you pick up the tab. If you don’t, the grass doesn’t get cut, roads don’t get maintained and the pool doesn’t …
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Divorcing in a down market Here is a divorce clause you probably would not have seen during the real estate boom: “Either party may unilaterally demand a 10 percent drop in the acceptable selling price and listing price every 60 days.” It is something that a Sarasota couple parting ways agreed to in January. Stacked-up …
Distressing development [South Florida] he implosion of New York-based Boymelgreen Developers has reached Miami Beach. Deposits are being returned at its 66-unit Vitri project on South Beach. Contract holders are upset about getting back their deposits of the developer’s project north of downtown with only 1 percent interest after two years. And brokers are threatening …
More mobile homes are not being insured More than half of Florida’s 800,000 mobile homes are no longer covered by homeowners insurance — another sign of the state’s soaring insurance costs. The number of insured Florida mobile homes dropped from more than 500,000 in 2004 to less than 400,000 last year, according to the state …