Bank seeks foreclosure against retail center

A retail center in Hialeah has been targeted for foreclosure. First-Citizens Bank & Trust Co. (Nasdaq: FCNCA) filed a foreclosure lawsuit on June 29 against Bremar Development and managing member Jorge D. Marrero. It concerns a mortgage issued for $3.59 million in 2008 by Sun American Bank, which later failed. The property at issue is…

Design board says Wynwood projects lack “artistic elements” – but still gives approval

Renderings of 222 Wynwood, Wynwood 26 and Wynwood 25 The Wynwood Design Review Committee unanimously approved designs for three buildings taller than 80 feet after an hours-long meeting on Wednesday. Wynwood DRC members admitted they were worried that such tall massive buildings may forever change the low-rise artistic atmosphere that helped make the former manufacturing…

Miami Beach retail building sells for $10.5M

A retail building on the north side of Miami Beach sold for $10.5 million. Peter Korakakos and Andre Korakakos sold the 12,652-square-foot building at 7300 Collins Ave. to Collins and 73rd Developers LLC, managed by Silvia Sabates Coltrane, the CEO of Surfside-based Transacta Developers. The price equated to $830 per square foot. It was built…

Miami Beach retail building sells for $10.5M

A retail building on the north side of Miami Beach sold for $10.5 million. Peter Korakakos and Andre Korakakos sold the 12,652-square-foot building at 7300 Collins Ave. to Collins and 73rd Developers LLC, managed by Silvia Sabates Coltrane, the CEO of Surfside-based Transacta Developers. The price equated to $830 per square foot. It was built…

92-year-old downtown Miami building trades for $22M

A 92-year-old office building in downtown Miami that supports the county courthouse was acquired for $22 million. Courthouse Realty Corp., managed by Salomon Terner, sold the four-story, 56,205-square-foot building at 22 N.W. 1st Street to Courthouse East Acquisitions, managed by David Aaron in Miami Beach. Coral Gables-based BAC Florida Bank provided a $13.2 million loan…