Strategies of the Condo Vultures®

The proposed seven-story Biscayne Lofts project located just north of Downtown Miami is being foreclosed.TotalBank, a Miami-based bank with assets of $2.1 billion, filed the initial foreclosure paperwork, known as Lis Pendens, against the project's owner Biscayne Lofts Ltd. on March 2 in Miami-Da...

purchased the existing land loan on the proposed but never started 47-story Paramount Beach luxury oceanfront condominium in Sunny Isles Beach.Sunny Isles Property Holdings LLC, with managing member Carlos J. Mattos, acquired the loan on Feb. 17 from iStar FM Loans for an undisclosed price. The o...

South Florida's residential resale inventory has fallen 1.3 percent in the last week to 96,841 single-family houses, townhouses, and condominium units in the tri-county region of Miami-Dade, Broward, and Palm Beach counties, according to a new report from Condo Vultures® LLC. A month ago on Feb. ...

Regulators shut two more banks - one in Nevada and another in Illinois - on Friday, increasing the total number of failed institutions to 10 for the month of February and 16 for the year.Security Savings Bank in Greater Las Vegas with assets of $238 million and Heritage Community Bank outside of ...

A pair of veteran Miami real estate investors obtained a 145-unit apartment complex near the popular Dadeland Mall in Kendall with development rights for more than 700 new units in an all-cash deal that works out to a more than 60 percent discount.Les Chalet Investments LLC, with Tomas Cabrerizo ...

Buyers are scurrying to purchase resale single-family houses, condominium units, and townhouses in the tri-county South Florida region of Miami-Dade, Broward, and Palm Beach counties despite the lack of financing available in the market, according to a new report from Condo Vultures® LLC.Pending ...

The site of the proposed 68-story Paramount Park condominium tower in Downtown Miami is being foreclosed by a Kansas lender that is owed $21.2 million, according to Miami-Dade County Clerk of the Court records.Hillcrest Bank in Overland Park, Kan., has filed a Lis Pendens action - the first step ...

South Florida experienced a 5.2 percent jump in pending sales during the last week as the tri-county region's available inventory for resale continues to decrease, according to a new report from Condo Vultures® LLC.As of Feb. 16, buyers had 11,012 single-family houses, condominium units, and town...

A European bulk buyer has purchased 141 units in the troubled Whitney condominium for $24 million, or a 45 percent discount off of the existing $43.9 million loan amount, according to the Palm Beach Daily Business Review.ABG Sundall Collier, a publicly traded Scandanavian investment firm based in...

Regulators seized four banks with combined assets of $1.01 billion and deposits of $808 million in Florida, Illinois, Nebraska, and Oregon on Friday, Feb. 13, in moves that will generate estimated losses of $341 million for the Federal Deposit Insurance Corp.This latest round of bank failures is ...