The Real Deal Miami

Wind blown into foreclosure

December 04, 2008 10:29AM

The developer of Neo Epoch, the force behind the multi-tower Wind by Neo
project, faces a foreclosure lawsuit from Wachovia Bank. The 42-story,
498-unit condo was supposed to be the first of six towers in a massive
development on 13.5 acres at the intersection of Miami Avenue and the
north bank of the Miami River. It’s one of the largest completed condos
yet to face a foreclosure lawsuit. Bank United in February said it
would not write mortgages for the project. The foreclosure document
exempted 214 residential units and four commercial units the developer
sold from the foreclosure action, but Wachovia could take 275
residential units.