Condo board declares bankrupcy

When it was built the Maison Grande was one of the first true Lux condos on the beach in Miami. I remember it well because my Grandfather was one of the big contractors on the project. It's amazing how time flys! A lot of '70's' famous people lived in that building. I'll bet today it's dated as compared to the lux building boom of the last 8-10 years. What I really miss is my Grandfather taking me on the job site and then to Wolffies for a cornbeef and pastrami sandwich which I couldn't finish if my life depended on it.

It will be interesting to see what happens, but my guess is going to be a simple cram down of the lease holder, mainly because i don't see what other choice there is. To some extent, the lease is bullshit to begin with: think about it - the condo offering included amenities, but the greedy Sponsor wanted to keep gettting apid for the amenities.

I remember about 5 years ago someone bought the pool in some Brooklyn Condo project at a foreclosure auction. I don't know what ever happened with that. Does anyone know?