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South Florida

Judge to rule on offer for indebted Brickell properties next month

Rendering of Beacon at Brickell Village
Rendering of Beacon at Brickell Village

A Miami-Dade bankruptcy judge will decide at a hearing July 10 whether Crystal Tower, an LLC managed by Miami investor Omar Botero, can buy a foreclosed piece of Brickell real estate, the Miami Herald reported.

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Botero has offered $19.5 million for the developable, vacant land at 30 SE 8 St., 18 SE 8 St. and 830 SE 1 Ave., including the intended site of the Beacon of Brickell Tower, a project that never got off the ground.

The offer exceeds the value of mortgages on the properties, which are in foreclosure and owned by Chapter 7 bankrupt entities Brickell Village and Beacon Developer Partners, linked to developer Renzo Renzi and his brother Pasquale Renzi. [Miami Herald] –Emily Schmall

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BrickellRenzo Renzi