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South Florida

Ocean Mall on Singer Island to hit the auction block

Daniel Catalfumo Ocean Mall on Singer Island will hit the online auction block April 1, the South Florida Business journal reported. The lender, Garrison Investment Group won an $11.8 million foreclosure judgment against Catalfumo and his OMRD LLC last year. However, the auction was delayed due to a different claim by a former tenant. 

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OMRD used an $11.1 million mortgage to build the 63,650-square-foot retail center along the beach at 2401 North Ocean Drive, but it only leased the property.

Steakhouse USA/Portofino Italian Grill had previously received a $1 million judgment against OMRD for forcing it out of the mall during construction. Catalfumo’s PGA Professional & Design Center in Palm Beach Gardens is also slated for an online auction Feb. 21 after losing a $41 million foreclosure judgment. [SFBJ] — Christopher Cameron

 

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AuctionsForeclosuresIsland Real Estate