Aby Rosen Selling Distressed Lincoln Road Site to Tricera
Aby Rosen is under contract to sell his distressed Lincoln Road retail building, potentially avoiding losing it to a lender that claims a $15.1 million default.
Source: therealdeal.com
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Aby Rosen is under contract to sell his distressed Lincoln Road retail building, potentially avoiding losing it to a lender that claims a $15.1 million default.
The new owners plan to construct a transit-oriented development.
The Miami-based developer plans to replace the existing building into a five-story building.
The 16-story building is about 85 percent leased.
The sale netted the seller a nearly $5 million loss.