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Commercial Real Estate Miami Beach Apartment Building Auctioned In Bankruptcy

A bankruptcy court auction for a Miami Beach apartment complex concluded with a $7.79 million winning bid.

The auction concerned the 29-unit apartment hotel that’s been set up for short-term rentals at 942 Pennsylvania Ave. The winning bidder was 942 Pennsylvania Owner LLC, managed by Salem Mounayyer.

In May 2022, property owner 942 Penn RR LLC filed for Chapter 11 reorganization in Miami. That followed a 2017 foreclosure lawsuit filed against the property by 1250916 Ontario Limited.

According to the motion to sell the property, 942 Penn RR LLC is equally co-owned by Raziel Ofer and Roberto Mendez.


Source:  SFBJ

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