Andrew Korge cancels $28M offer for former Rishi Kapoor dev site

Andrew Korge terminated his firm’s $28.2 million offer for a stalled mixed-use project site in Coconut Grove tied to disgraced developer Rishi Kapoor.  An affiliate of Korge’s Miami-based KOR Development walked away from the potential purchase of the development site at 3120-3170 Commodore Plaza, a year after reaching an agreement with Bernice Lee, the court-appointed receiver overseeing the liquidation of assets belonging to defunct Location Ventures, previously led by Kapoor, and its related entities, according to an Oct. 15 notice in Miami federal court.   Last year, Lee was appointed Location Ventures’ receiver stemming from a pending civil lawsuit by the […]This article originally appeared on The Real Deal. Click here to read the full story.