Developer’s Money Woes Evident in Bartow Foreclosure Sale [Central Florida]
An anchor building in downtown Bartow is going on the auction block Tuesday in a foreclosure sale, reflecting the financial nightmare plaguing Lakeland developer Jose Reynoso.
He paid $380,000 for the Berkowitz building at 415 E. Main St. in 2006, and spent thousands of dollars renovating it for offices and retail shops.
He bought four more downtown buildings soon after that and funneled more money into those renovations.
As recently as December, he bought two acres of vacant land along U.S. 17 south of Hooker Street in East Bartow for $195,000, and he signed leases with options to purchase two more downtown buildings.