MIAMI-The Biscayne Tower Apartments were sold for the second time this year. The 40-unit apartment project, which had been the subject of foreclosure proceedings recently, traded for $3 million.
Biscayne 1175- LLC, which is managed by Riad Belarbi, is the new owner of the North Miami apartment building, according to the South Florida Business Journal.
The property was in foreclosure until January when the litigation was resolved. Tery Enterprises sold the building at that time for $2 million to King Apartamentos, a Surfside, FL-based firm. See story in the South Florida Business Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
