The Real Deal Miami

Lantana project faces foreclosure

August 14, 2008 11:40AM

Miami-based Ocean Bank is moving to foreclose on the $10 million St. Johns Villas project in Lantana, which would offer 15 units priced from $1.4 million to $2.5 million each. The bank on July 28 filed a notice of its intent to foreclose on a mortgage borrowed by developer North Lake Harbour Partners of Miami, and principals Scott Lehman and Richard A. Lehman. The developer purchased the vacant site on the Intracoastal Waterway at that time for $5.3 million, according to property records.