search

The Real Deal Logo

Trending

HGTV’s “Mr. Flip It” gets four years in jail for $10M fraudHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudTrump accused of making false statements about $50M Chicago tower loanTrump accused of making false statements about $50M Chicago tower loanRent board’s 4% hike will “plunge” buildings into distress: landlordsRent board’s 4% hike will “plunge” buildings into distress: landlordsH-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boom
South Florida

Sunbeam Properties halts fight over adjacent lot

Kobi Karp rendering of Isle of Dreams condo project
Kobi Karp rendering of Isle of Dreams condo project

Sunbeam Properties is reportedly suspending its fight against the owner of a North Bay Village property now that the site will become a condo project instead of an adult nightclub.

The Miami Beach-based company led by billionaire Edmund Ansin had filed a foreclosure suit in 2012 against Isle of Dreams LLC over a $4.8 million mortgage on property next to Ansin’s WSVN television studios, according to the South Florida Business Journal.

Sign Up for the undefined Newsletter

Sunbeam has now withdrawn the lawsuit after Isle of Dreams refinanced its mortgage to clear the way for a condo development.

The property recently gained approval for a 32-story, 237-unit condominium designed by Kobi Karp. [South Florida Business Journal] — Jennifer White Karp

Tags
Kobi KarpSunbeam Properties