Companies led by Mallory Kauderer file Chapter 11 bankruptcy over Little Haiti Miami property – South Florida Business Journal – South Florida Business Journal

Seven related companies based in Miami filed Chapter 11 reorganization to halt a foreclosure lawsuit against their retail properties in the Little Haiti neighborhood of Miami.
Real estate investor Mallory Kauderer is the managing member of the seven companies that filed Chapter 11 on Jan. 18 in U.S. Bankruptcy Court in Miami: 6200 NE 2nd Avenue LLC; 5911 NE 2nd Avenue LLC; 5901 NE 2nd Avenue LLC; 5900 NE 2nd Avenue LLC; 5700 NE 2nd Avenue LLC; 175 NE 55th Street LLC and 5524 NE 2nd Avenue LLC. The cases are being jointly managed.
The debtors have yet to file a full accounting of their assets and debts.
Miami-based attorney Steven Beiley, who represents the debtors, said they filed Chapter 11 because they wanted to reorganize their debt after a single creditor won a foreclosure judgment and the auction date was coming up.
In October, Chemtov Mortgage Group Corp. won a $7.5 million foreclosure judgment, based on $6 million in principal plus interest and fees, against the seven LLCs, Kauderer individually and Little Haiti Development Partners as guarantor. The foreclosure auction regarding 17 parcels was slated for Jan. 19.
The filing of the Chapter 11 automatically put the foreclosure on hold.
The properties involved in the bankruptcy case are:
More investors have targeted the historically Black neighborhood of Little Haiti for redevelopment in recent years, with the Magic City Innovation District being the centerpiece of those plans. The properties in this case are in multiple locations, not a contiguous development site, and their tenants are mostly local businesses.
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