Two St. Regis Bal Harbour luxury condominium units must be transferred to a Miami private equity company that won an appeal to enforce an agreement pledging the real estate as collateral.
Safe Harbor Equity affiliate SHEDDF2-FL3 LLC is to take ownership of the top-floor units in the 27-story oceanfront hotel-condo tower from Penthouse South LLC and Parkwest Century LLC, limited liability companies led by Brazilian businessman Claudio Rossi Zampini.
The dispute between Safe Harbor and Penthouse wasn't over whether Penthouse defaulted on a $3.24 million loan, which Penthouse conceded, but on how it could make good. The amount owed grew to nearly $5.3 million, including interest.
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Lidia Dinkova
Lidia Dinkova covers South Florida real estate for the Daily Business Review. Contact her at [email protected] or 305-347-6665. On Twitter @LidiaDinkova.
