The Department of Justice has
reached a settlement with Wells Fargo Bank regarding an alleged pattern of
discrimination against qualified African-American and Hispanic borrowers for a
5 year period beginning in 2004. The settlement gives $125 million in
compensation for borrowers who were led into taking out subprime
mortgages or who paid higher fees than similarly-qualified white
borrowers. The additional $50 million will provide direct payments for
down payment assistance of residents in eight U.S. metro areas.
Thursday, July 12, 2012
Wednesday, July 11, 2012
Dezer acquired Solis Resort and Spa in Sunny Isles
Gil Dezer
Developer
Gil Dezer has acquired the distressed $18.5 million mortgage on the Solis
Resort Spa & Residences in Sunny Isles Beach, according to the South
Florida Business Journal. The 52-story resort, located at 15701 Collins
Avenue, Sunny Isles Beach Fl was purchased by Mansiana Ocean Residences for $26
million in 2005. The company started renovating Sunny Isles Beach
property in 2007 and was called for 135 residential units and 140 guestrooms,
but they were were never completed. The project’s lender, Mercantil
Commercebank, filed a lawsuit against the company and its managing member,
Alexander Forkosh, the CEO of New York City-based Forkosh Development Group in
2010
Friday, July 6, 2012
Kim and Kanye list their homes
Hot celebrity couple Kim Kardashian and Kanye West have listed their homes amid
rumors the two are moving in together, E! Online reported. Two years after
buying her Tuscan-style Beverly Hills home for $3.4 million, Kardashian
listed the five-bedroom home for close to $5 million. West, reportedly pocket-listed his 4,214-square-foot
Hollywood Hills home for just under $4 million.
Tuesday, June 26, 2012
Miami home prices jump 22 percent!
According to a report from
the Miami
Association of Realtors, Miami home prices rose for the sixth consecutive month
in May, with a 22 percent increase in the median sales price of
condos. The median sales price of single-family homes rose 6 percent
in May; both increases were compared to the same period in 2011. “Miami home prices have experienced double-digit appreciation consistently over the
last six months,” said Martha Pomares, chairman of the board of the Miami
Association of Realtors.
Harrods opens new LV store
The luxurious space houses a wide selection of luggage and scarves, in addition to
areas devoted to exotic skins and increased selection of handbags and
accessories.
Original stone columns and
ceiling details in the space have been uncovered and restored to create a
luxurious Louis Vuitton shopping experience.
Subscribe to:
Posts (Atom)