Developer Matthews in cash crunch

Miami /
Nov.November 17, 2009 12:48 PM

Palm Beach builder Robert Matthews has lost three marquee properties to foreclosure and is now, along with his socialite wife, Mia, infamous as Palm Beach County’s single largest delinquent property-tax debtor. The duo currently owe $264,450 on Casa Bendita (Blessed House) from 2008, and in June, lenders seized the 19th century Point Breeze hotel in Nantucket, where Matthews once hoped to sell renovated condos for $1.5 million apiece. Meanwhile, Matthews’ former Heart of Palm hotel on Royal Palm Way in Palm Beach was sold at a courthouse auction in September for $10 million after a foreclosure judgment, and there‚Äôs an auction scheduled for next week on his one-acre lot of prime Palm Beach property at the corner of Royal Palm Way and South County Road. It will be sold unless Matthews can come up with the $20.1 million lenders say he, and his company Royal County, LLC, owes on the mortgage. [Palm Beach Post]


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