Turkish developer loses North Miami Beach apartment tower dev site to lender
Four years after scoring approval for a 354-unit luxury apartment tower in North Miami Beach, developer Celal Ozkan lost the site to the lender in bankruptcy court. An affiliate of CEO Contract, led by Ozkan, will turn over the nearly 1-acre site at 16300 Northeast 19th Avenue to Miami Beach-based Safe Harbor Equity, which had provided an $8.5 million loan for the site in 2022, according to court records. CEO Contract has offices in Istanbul and New Castle, Delaware. Federal bankruptcy court Judge Laurel M. Isicoff in Miami approved the sale last week to Safe Harbor’s distressed debt fund 3. […]This article originally appeared on The Real Deal. Click here to read the full story.
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Stevan Stanisic
Real Estate Advisor | License ID: SL3518131
Real Estate Advisor License ID: SL3518131