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Downtown Hollywood bar property headed for foreclosure auction
The two-story building at 1903 Hollywood Blvd. that houses the Whiskey Tango bar is collateral for a defaulted mortgage loan with a $2.78M balance
A building in downtown Hollywood that houses the Whiskey Tango bar is headed for a foreclosure auction.
The 11,445-square-foot building at 1903 Hollywood Boulevard is collateral for a mortgage loan with an unpaid balance of $2.78 million.
An online auction of the two-story building is scheduled for Dec. 11 at www.broward.realforeclose.com.
The owner, Hollywood Food and Beverage, has listed the building for sale with an asking price just under $3.5 million.
Hollywood Food and Beverage paid $650,000 in 2007 to acquire the property, which was built in 1970 on a 6,061-square-foot lot just west of Young Circle in downtown Hollywood.
U.S. Bank initially won a foreclosure judgment against Hollywood Food and Beverage in 2013, but a subsequent forbearance agreement between the bank and the borrower negated the judgment.
U.S. Bank reopened and won the foreclosure case after Hollywood Food and Beverage allegedly defaulted on the mortgage loan starting in June 2017.
The bank recently assigned the loan to ECapital Loan Fund I. [South Florida Business Journal] – Mike Seemuth