The Real Deal Miami

Catalfumo’s Ocean Mall defaults on loan

June 08, 2012 10:30AM

Ocean Mall

Construction titan Dan Catalfumo’s company has defaulted on the mortgage at Ocean Mall in Riviera Beach, the Palm Beach Post reported. The property, which one of the  economic hubs of Riviera Beach, is situated on land owned by the city and leased by Catalfumo’s company. That lease could now be shelved. “The lease the city got into with Catalfumo is a very bad lease which did not favor the city,” said Riviera Beach City Council member Dawn Pardo. “This is a great opportunity to get the lease back and do it right this time.” [Palm Beach Post]