For anyone who closely follows real estate litigation in South Florida and Miami, the ongoing saga of the Vizcayne condos on Biscayne Boulevard has proved to be one of the most drama- and twist-filled narratives in the field. The latest turn took place in May 2018, with two settlements to the tune of roughly$3,069,000 and $646,700 awarded to the Vizcayne North Tower Association and Vizcayne Master Association, respectively, by construction companies.

Originally known as Everglades on the Bay, the two towers that comprise the Vizcayne luxury high-rises were first developed by the Aventura-based Cabi Developers. The company, founded by Mexican developers Elias and Abraham Cababie, worked on the project from 2007 to November 2010, at which point they filed for bankruptcy. The buildings were then sold to a partnership including real estate investor Rockwood Capital out of California as well as the South Florida-based companies Duncan Hillsley Capital and Fortune Capital Management Services in Coral Gables, who renamed the project Vizcayne. It was one of the largest deals to emerge as a result of the recession and accompanying South Florida real estate bust.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]