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| Linda Worton Jackson |
Miami, FL – On July 1, 2014, Salazar Jackson closed on the
sale of a 22-unit residential apartment building to 747 Property, LLC for $1.59
million – all cash.
The sale was approved by U.S. Bankruptcy Judge A. Jay
Cristol at a hearing on June 18, 2014. 747 Property, LLC won the bid for the
property at a bankruptcy auction conducted by Linda Worton Jackson,
Co-Founder of the Miami-based law firm Salazar Jackson, counsel to the
bankruptcy trustee. Maria Yip
served as the bankruptcy trustee for the original owner.
“This is an area
that was one of the worst in the city, but now investors see it as an
opportunity and a great investment,” said Jackson.
Sperry Van Ness
Commercial Realty brokered the sale, which will be sufficient to pay all
creditors in full.
The buyer outbid two
other bidders at the auction. The property, located at 747 NE 83rd Terrace,
will be maintained as an apartment building. The original owner filed for
Chapter 7 bankruptcy in February 2014 to prevent foreclosure.
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| Maria Yip |
Salazar Jackson LLP
(http://www.salazarjackson.com) is a Miami-based firm that serves individuals
and businesses facing financial crisis, complex commercial litigation or
government investigations as well as those seeking to seize financial or
business opportunities through startups, mergers, acquisitions and
divestitures. They represent clients in matters throughout the country.
For a complete copy
of the company’s news release, please contact:
Boardroom Communications
Michelle Friedman
Phone: 904-641-3226
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