No Comments

South Beach Hotel Could Be Seized In $7.4M Foreclosure

A hostel in the South of Fifth neighborhood of Miami Beach has been targeted in a $7.39 million foreclosure lawsuit.

Fort Lauderdale-based Courthouse Square Holdings LLC filed a foreclosure complaint Feb. 27 against 235 Washington Holdings. It concerns the 48-bed hostel with a small restaurant at 235 Washington Ave. It’s currently called the Onu Hotel, although it’s also been known as the SoBe Hostel.

Miami-based Dade County Federal Credit Union awarded a $7.5 million mortgage to the borrower in 2019, the same year 235 Washington Holdings purchased the hostel for $10 million. It subsequently performed renovations to the 9,918-square-foot building.


Source:  SFBJ

© 2024 FIP Commercial. All rights reserved. | Site Designed by CRE-sources, Inc.