A hotel redevelopment project in Miami Beach has been targeted in foreclosure.
Edgewood MAC V LLC filed a foreclosure lawsuit on Oct. 13 against 1775 James Avenue LLC over the 46-unit building. It concerns a mortgage issued in March 2014 for $10 million. The lender is an affiliate of Southport, Ct.-based Edgewood Capital.
Miami attorney Da’Morus Cohen, who represents the lender in the lawsuit, couldn’t be reached for comment.
The 15,557-square-foot building, currently an apartment, was built… …read more
From:: biz journal foreclosures