Former Trump Fort Lauderdale Project Marks 500 Days Of Litigation

 MIAMI, FL--September marks the 18-month anniversary of a foreclosure filing being initiated against the new 24-story condo-hotel project formerly known as the Trump International Hotel and Tower (top left photo) on Fort Lauderdale Beach Boulevard in South Florida, according to a new report from CondoVultures.com.

Despite the more than 500 days since the $139 million Lis Pendens foreclosure action was initiated by the lender of record - Corus Construction Venture LLC - against the project’s developer SB Hotel Associates LLC, the 298-unit tower with a 2011 assessed value of $46.1 million remains tied up in litigation in the Broward Circuit Court, according to an analysis of Broward County records.

New York real estate developer Donald J. Trump (lower right photo) has since withdrawn his name from the Fort Lauderdale Beach project that overlooks the Atlantic Ocean, according to the South Florida Sun-Sentinel. 

As the court battle proceeds, the Downtown Fort Lauderdale and the Beach condo market is running out of new developer units at a time of steady buyer interest, according to an analysis based on the Condo Vultures® Official Condo Buyers Guide To Downtown Fort Lauderdale And The Beach™.

CondoVultures.com is scheduled to profile the latest condo trends in the second quarter of 2011 in the seven largest coastal markets in the tricounty South Florida region of Miami-Dade, Broward, and Palm Beach counties.

As of the week of July 21, the Condo Vultures® Market Intelligence Report™ has been publishing a seven-part weekly series analyzing new condo sales trends in Greater Downtown Miami, South Beach, Sunny Isles Beach, Hollywood / Hallandale Beach, Downtown Fort Lauderdale and the Beach, Boca Raton / Deerfield Beach, and Downtown West Palm Beach and Palm Beach Island.

 

Peter Zalewski of Condo Vultures® can be reached at 800-750-0517 or by email at peter@condovultures.com