The Real Deal Miami

Sunbeam Properties halts fight over adjacent lot

Site approved for Kobi Karp-designed condo tower
October 21, 2014 12:45PM

1 Kobi Karp rendering of Isle of Dreams condo project

Kobi Karp rendering of Isle of Dreams condo project

Sunbeam Properties is reportedly suspending its fight against the owner of a North Bay Village property now that the site will become a condo project instead of an adult nightclub.

The Miami Beach-based company led by billionaire Edmund Ansin had filed a foreclosure suit in 2012 against Isle of Dreams LLC over a $4.8 million mortgage on property next to Ansin’s WSVN television studios, according to the South Florida Business Journal.

Sunbeam has now withdrawn the lawsuit after Isle of Dreams refinanced its mortgage to clear the way for a condo development.

The property recently gained approval for a 32-story, 237-unit condominium designed by Kobi Karp. [South Florida Business Journal] — Jennifer White Karp