Chabad-Lubavitch properties set for July auction

Lubavitch Education Center's rabbinical college
Lubavitch Education Center's rabbinical college

The Lubavitch Education Center, the first rabbinical college, or yeshiva, in the southeastern U.S., could be sold in a foreclosure auction set for July, the South Florida Business Journal reported.

A Miami-Dade Circuit Court judge awarded Alabama-based Regions Bank a $15.1 million foreclosure judgment against Friends of Lubavitch of Florida and 17330 NW 7 LLC, the owners of the property, in addition to two other properties that provide Jewish education from pre-school to high school.

The judge ruled against counterclaims filed by Friends of Lubavitch, a non-profit affiliate of the orthodox Chabad-Lubavitch – a branch of Hasidism – movement, deciding it was past due on $7.8 million plus interest owed to Regions and setting its three properties for online auction on July 29.

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

Those include an 84,020-square-foot building on seven acres in Miami, a 30,750-square-foot education center in Miami Beach and a 3,363-square-foot apartment building, also in Miami Beach.

Several Jewish institutions in recent foreclosure lawsuits have been saved by donations or loan refinancing, the Journal said. [South Florida Business Journal]Emily Schmall