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South Florida

Island Gardens payments late

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A resort, marina and shopping center project on Miami’s Watson Island is missing payments on the city-owned site. Island Gardens missed its June and July rent payments totaling $100,000 for the city-owned site, and faces a $236,000 claim for a broken lease at its former sales center off Miami Beach’s Lincoln Road. Turkish developer Mehmet Bayraktar can’t find a lender for the $640 million development. He has until February to start construction.

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Island Real EstateMehmet BayraktarMiami