The Real Deal Miami

Massive foreclosure in North Miami Beach

July 31, 2008 05:01PM

A foreclosure lawsuit has been filed by lender IStar FM Loans against Marina Grande, a yet-to-be-completed 468-unit condo in North Miami Beach. IStar FM Loans were the projects lenders. The waterfront project on Biscayne Blvd was supposed to have two 24-floor condo towers and a 100-boat marina. While the project broke ground in 2006, construction has been stalled since the first floor was built.