The Real Deal Miami

Watson Island developer makes payment

August 28, 2009 02:33PM

Flagstone Property Group has repaid $100,000 in back rent owed to the City of Miami, and its CEO said work continues on the proposed luxury marina project there. Mehmet Bayraktar didn’t comment on whether he’ll make the $83,000 payment for August but said construction was basically ready to go. He said the financing and costs needed extensive revisions and a different loan deal, but he vowed to continue the project.