Industrial developer loses $3M foreclosure
An incomplete industrial project is set for public auction after its owner lost a $3.4 million foreclosure lawsuit.
Miami-based Premier American Bank won the judgment on Feb. 4 against Westpark Industrial LLC and managing member Bernardo Kopel. The 3.9-acre site, at the southeast corner of Northwest 110th Avenue and Northwest 17th Street, near the Dolphin Mall, is set for public auction on May 10 on the county’s Web site.
The developer started building four buildings with 11 office units and 35 office/warehouse units there. The foreclosure lawsuit was filed in January 2009 business cards.
Premier American Bank failed in January, and most of its loans were assigned to Bond Street Holdings subsidiary Premier American Bank N.A., which has a loss-sharing agreement with the Federal Deposit Insurance Corp.
This was one of 10 foreclosure lawsuits in South Florida against Kopel and his associated commercial and residential development companies.
Filed under: management by Pascal