News about properties and real estate
2nd developer sues Hackensack lender [North Jersey] A Florida developer has accused Hackensack’s Kennedy Funding Inc. of failing to repay $525,000 from an unsuccessful loan application. A lawsuit filed by Royale Luau Resort LLC of Destin, Fla., in U.S. District Court in Newark claims the company made the payment to Kennedy Funding as part of …
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Florida business owners might see tax relief Owners of small apartment buildings and mom-and-pop businesses who have faced massive increases in their tax bills could see some relief under a plan that is moving swiftly through the Florida Legislature. A bill passed 13-0 by the House Government Efficiency & Accountability Council Wednesday would change the …
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Condo converter’s debts pile up [South Florida] Warren Hickernell looked like the boldest contrarian in the Southwest Florida real estate market last year. He spent millions changing motels and apartment buildings into condominiums long after the conversion trend seemed spent. But with banks foreclosing on six of his 18 conversion projects — demanding repayment of …
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Condo switchers flee Florida Miami’s condo market has nothing in common with its weather forecast these days; it’s freezing cold with a chance of bad investment. That might explain why more Florida condo converters are showing up in the Triangle. Meet Haim Einhorn. He has spent decades converting rentable apartments to for-sale residences in South …
Hoteliers walk a fine line With pictures of kids hanging on the office walls and rooms named after Gabriella, Francesca and Nick, the Captiva Beach Resort bears all the hallmarks of a family business. But the people who are most interested in the future of this 20-room inn on Siesta Key spend just a few …
Flipped in Florida — Selling in a Housing Bust There’s something about Florida residential real estate that attracts speculators like an alligator to an easy meal. Abundant sunshine has been known to distort investors’ perception of the laws of economics from the 1890s to the present. With tens of thousands of properties languishing on the …
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