An apartment complex in West Palm Beach could be sold in Bankruptcy Court after it failed to complete its condominium conversion and was declared a public nuisance.
HFAH Clear Lake LLC filed Chapter 11 in Palm Beach County at the end of September, listing $4.23 million in assets and $30.1 million in liabilities, according to the South Florida Business Journal.
Hawthorne, N.Y.-based Homes for America Holdings and Daniel Hayes own the shuttered apartment complex located on 11 acres at 719 Executive Center Drive.
According to court filings, the property’s delinquent taxes now stand at $2.5 million, which moved the city to declare it a public nuisance. [South Florida Business Journal] – Christopher Cameron