MIAMI-Even as new condo projects get underway in Downtown Miami, the remnants of a few failed projects remain as a testimony to the bust. One of those projects, Filling Station Lofts, may soon get new life.
PAC Capital LLC is set to repossess the unfinished condo development. After a 30-month foreclosure suit, Filling Station Lofts is in the final stages of transfer to the construction lender of record, according to CondoVultures.com.
“Filling Station went to auction and only one other bidder went after it—and stopped when the price hit $3,300,” says Peter Zalewski, principal at Bal Harbor-based Condo Vultures. “The tower sits on North Miami Avenue in the Biscayne Boulevard corridor and offers 77 units. It’s one of the last unfinished projects in Greater Downtown Miami.”
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