MIAMI- Bankruptcy Judge Robert A. Mark will hear a motion on Nov. 4 to have the One Bal Harbour condo hotel project go to the auction block.
Attorney Charles Throckmorton, acting as counsel for debtor Elcom Hotel & Spa, filed a motion in U.S. Bankruptcy Court on Monday to schedule the auction and set bidding procedures, according to the South Florida Business Journal. Elcom owns 51 condo-hotel units, 41,047 square feet of the hotel at 10295 Collins Ave., and controls the rental management agreements for the previously sold units.
The newspaper reports that the opening price for the property will be $13 million with Stoneleigh Capital of South Norwalk, CT being the stalking-horse bidder. 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.
