MIAMI-Ocean Bank has sold a stalled Miami River condominium site at 2215 N.W. 14th St. to a Pompano Beach-based investor for $4.35 million. The bank sold the 4.4-acre Coastal on the River condo project site to Quai Investments.
Riverside 22 LLC purchased the property in 2005 for $6 million and planned to construct the 633-unit Coastal on the River on the site. The project was put on hold. The bank filed a foreclosure suit against Riverside 22 in 2008 over a $5.03-million loan. For the full story, go to South Florida Business Journal .
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