Tibor Hollo-led Company Purchases Delray Beach Home Project

The stalled Mizner Grande Estates home project was just purchased by a company led by Miami developer Tibor Hollo for $2 million.

The home project includes 10 home lots located on the south side of Linton Boulevard just west of South Jog Road. The company that purchased the project from Mizner Grande Partners is 1814 Brickell LLC – led by Hollo, president of Florida East Coast Realty, along with Jerome Hollo, Wayne Hollo and Leonard Katz.

Reports indicate that the $2 million could be a short sale, as Mizner Grande Partners’ mortgage was last modified at $4.5 million in 2009. When the lender Pennisula Bank failed, the assets were acquired by Miami-based Florida Community Bank.

Several homes in the project were completed, but none have been sold.

Source: Biz Journals

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