The Real Deal Miami

Investor to auction Miami Merchandise Mart units

More than $8M in taxes owed on retail units
January 20, 2015 01:34PM

Miami Merchandise Mart

Miami Merchandise Mart

Like the saying goes, get ’em while they’re… saddled with liens?

Miami Merchandise Mart investor Robert Wohlfeld is auctioning off 325 retail units on Wednesday and Thursday. But future buyers might be paying much more than the advertised price of $2,000 per unit, according to a published report, due to the more than $8 million in taxes owed on them.

The units, with sizes ranging from a few hundred square feet to 5,000 square feet, were seized in March 2014 after TK Miami won a foreclosure auction with a $100,100 bid. Reports say the previous borrower had a $7.4 million mortgage, but the property at 777 Northwest 72nd Avenue was laden with liens.

When asked how much buyers would be liable for in taxes and liens, Wohlfeld referred the newspaper to the information on his auction website. [South Florida Business Journal]Kristina Puga