Judge orders auction do-over for downtown Miami site initially won by Cirrus

The saga of a distressed downtown Miami site appeared to be over after Cirrus won the property with a $77 million bid last month.  But a bankruptcy court judge recently ordered a new auction after the property owner, Brazilian developer Gilberto Bomeny, complained that the bidding process freezed out potential buyers offering more money. U.S. Bankruptcy Court Judge Laurel Isicoff set a Jan. 28 date for a new auction after hearing arguments on Dec. 31 from attorneys representing Cirrus and two Bomeny entities that own the nearly 1-acre parcel at 340 Biscayne Boulevard, home to a Holiday Inn built in […]This article originally appeared on The Real Deal. Click here to read the full story.