CS Pompano, an affiliate of Chevy Chase, Md.-based Capital Source Finance, won the judgment against Ocean Land Financing based on a $24.1 million mortgage, plus interest and fees.
The 5.9-acre site, at 1333 and 1350 S. Ocean Drive (A1A), is set for online auction on Nov. 18.
Ocean Land bought the site for $28.5 million in 2007 and tore down a Ramada Inn the following year in preparation for a Hilton. The project’s second phase was an unnamed 317-room hotel with a 910-space parking garage along the Intracoastal Waterway. However, it did not move forward.
Ocean Land has built major South Florida projects, such as the Trump Hollywood and Aquazul"
read much more by clicking title link above