Soffers’ controversial Davie Commons project gets picked up out of foreclosure by … Jacquelyn Soffer?

TRD MIAMI /
Feb.February 03, 2012 04:30 PM

Jeffrey and Jacqlyn Soffer are relinquishing control of their defaulted Davie Commons project to a team of investors whose managing member is Jacqlyn Soffer.

According to the South Florida Business Journal, KeyBank sold the $17.4 million mortgage it foreclosed on to New York-based KBNP LLC, which won an $18.7 million foreclosure judgment against Davie Commons. Unless another party bids higher than KBNP in the March auction, it will take control of the 152.6 acre site at the northeast corner of Interstate 75 and the Royal Palm Boulevard exit.

When the Soffers’ Turnberry Associates bought the site for $11 million in 2007, they invisioned 2 million square feet of office and retail space and a hotel. But the plan was met with heavy opposition as residents feared the density of the project. However KBNP, of which Jacqlyn is a small minority owner and managing member, has plans to develop residential properties on the site that mostly fit with the low-density, single-family character of the surrounding Weston neighborhood. [SFBJ]


Related Articles

arrow_forward_ios
1616 West 28th Street, Sunset Islands and Marsha Soffer (Realtor, World Red Eye, iStock)

Marsha Soffer sells Sunset Islands mansion for $11M

Marsha Soffer sells Sunset Islands mansion for $11M
David Martin and Jackie Soffer, with a rendering of the project

800-key Miami Beach Convention Center Hotel to be a Grand Hyatt

800-key Miami Beach Convention Center Hotel to be a Grand Hyatt
Bruce Weiner

Jeffrey Soffer taps ex-Turnberry CEO to lead resi division at his new company

Jeffrey Soffer taps ex-Turnberry CEO to lead resi division at his new company
Rendering of Turnberry Ocean Club and Jeffrey Soffer

Under-construction Turnberry Ocean Club condo tower scores $460M refi

Under-construction Turnberry Ocean Club condo tower scores $460M refi
Jeffrey Soffer and Fontainebleau Miami Beach

Jeffrey Soffer wants to expand the Fontainebleau Miami Beach

Jeffrey Soffer wants to expand the Fontainebleau Miami Beach
Turnberry Village North Tower

Lawsuit accuses Aventura condo board of election violations

Lawsuit accuses Aventura condo board of election violations
Office building blueprints (Credit: iStock)

Will new Opportunity Zones rules propel an office boom?

Will new Opportunity Zones rules propel an office boom?
Turnberry partners and siblings Jackie and Jeffrey Soffer split up

Turnberry partners and siblings Jackie and Jeffrey Soffer split up

Turnberry partners and siblings Jackie and Jeffrey Soffer split up
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...