Anybody knows of any condo buildings that have filed bankruptcy in the dade or broward beach area?

Asked by Luna, Miami Beach, FL Tue May 12, 2009

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Alma Rivera, Agent, Bradenton, FL
Wed Mar 24, 2010
There are several buildings that have negotiated or are negotiating with their lenders a short-sale of the remaining units they have not been able to sell. to avoid filing for bankrupcy.

You will find mostly buildings that have some units purchased by individual owners and a big percentage of units being offered at bulk sale prices to investors at prices under what the developer owes- with the approval of their lender. These transactions generally are not advertised by the developers.

Let me know if you are interested.

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Joe Robaina, Agent, Coral Gables, FL
Sun Aug 2, 2009
I can see you have now received information about many buildings that may have filed bankruptcy and there are many more but I wonder why you are asking the question.
I you wonder about being able to sell a condo in such a building I can tell you that in my experience and opinion it is all a matter of how you market and price the property,
A situation that might be viewed as a deterrent to one buyer or investor, might be perceived as an opportunity by another.
At our office, we receive plenty of inquiries from investors who only want to consider condos in distressed properties, for example.
Feel free to contact us if you would like to meet to discuss this or any other matter related to buying, selling or renting property in Sunny Isles Beach and neighboring communities.
Our office is part of a network of over 1000 world wide with more than 10,000 highly trained and motivated real estate professionals ready to help.
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Beth Jenkins, Agent, Miami Lakes, FL
Wed May 13, 2009
Hi Sunny,
Most condo buildings that do -which is actually going into receivership, you don't even hear about because they keep operating. They jsut have all of the funds going o the receiver to distribute.
A few I knew of ares till operating and getting into better condition now that the units are selling at a good pace and people are now paying the maintenance.
If you mean new construction that has not sold yet, they just stop cinstruction and try to sell off the assets such as the land.
I am sorry I do not have more information than that, there really is not much discusion of the topic in any of our realtor publications.

All the best,
Beth Jenkins
South Florida Brokers
786-374-4778 (direct)
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