Zilbert's Miami Beach and South Beach Real Estate Blog

By LINGLING WEI and ANTON TROIANOVSKI – Wall Street Journal About 10 investors are expected to submit bids to the Federal Deposit Insurance Corp. by Friday for $5 billion in condominium loans and other property held by the failed Corus Bank, in a key test of U.S. commercial real-estate values. The government-run auction, with loans [...]

South Florida Business Journal – by Brian Bandell A New York City investor is the new owner of the Caribbean Miami Beach condominium. The buyer, an affiliate of New York City-based Melohn Properties, bought the mortgage from ailing Corus Bank. The Chicago-based bank (NASDAQ: CORS) had given Caribbean Group Owners a $127.7 million mortgage to [...]