The Real Deal Miami

Auto dealer site sells for discount

May 26, 2011 03:40PM

The site of a closed auto dealership in Hallandale Beach has been sold
by lender Ocean Bank for a 67 percent discount. The buyer paid just
$875,000 for the site, which is located at 600 North Federal Highway.
Ocean Bank won a foreclosure judgment last year on a $2.69 million
mortgage. The buyer is managed by two Brooklyn residents, Mike and
Shlomo Zion. [SFBJ]