The Real Deal Miami

North Bay Village apartments hit with foreclosure suit

January 12, 2010 11:58AM

Miami-based Ocean Bank has filed a foreclosure suit against the owners of a pair of North Bay Village apartment buildings on an island in the middle of Biscayne Bay, which is accessible via the 79th Street Causeway. Court records name Centerpoint Group II, Bayshore View Investments, President Yongyuth Nethongkome and managing member Siriphan Knattongcome in the $3.2 million suit. Centerpoint owns a 20-unit building at at 7929 East Drive, and owes $2.5 million on that mortgage, records said. Bayshore View owns a 24-unit apartment building at 7931 East Drive and owes $734,814.