Lenders Get Unsold Condos in Dowtown Miami.
According to Ina Paiva, at the Miami Herald, Miami Condominium project will be handed back to lenders. This is the latest in a string of condo turnovers since mid-april. A pair of 49-story towers in downtown Miami will go back to the banks.
If approved by the bankruptcy court, the deal would settle the Chapter 11 bankruptcy case of the project developer. There are still hundreds of unsold units and it really does not appear that things are getting any better, in fact it seems like they be worsening.
If approved by the bankruptcy court, the deal would settle the Chapter 11 bankruptcy case of the project developer. There are still hundreds of unsold units and it really does not appear that things are getting any better, in fact it seems like they be worsening.
ehen is this going to end?
ReplyDeletewhat are we going to do?
ReplyDelete