The Real Deal Miami

Merco Group hits rough stretch

June 16, 2008 02:31PM

Family-run real estate holding organization the Merco Group spent nearly forty years amassing an empire of properties in South Florida and nationwide, before legal problems and a decline in available financing has cause them trouble in the last three years. Its residential project Terzetto at Aventura, at 2805 NE 185th Street, is delayed and has returned at least one deposit to a condo buyer. A  Florida appeals court has blocked Merco’s Brisas Del Rio project planned for the Miami River, and its Grand Bay hotel in Coconut Grove is temporarily closed after legal wrangling with Wyndham Hotels and Resorts over use of the name.