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Properties in Little Haiti Miami controlled by Mallory Kauderer set for bankruptcy auction – South Florida Business Journal – The Business Journals

A group of 17 commercial and vacant properties in the Little Haiti neighborhood of Miami is slated for auction through U.S. Bankruptcy Court.
The real estate portfolio fell into trouble in October when Chemtov Mortgage Group Corp. won a $7.5 million foreclosure judgment, based on $6 million in principal plus interest and fees, against seven LLCs and guarantor Mallory Kauderer.
Those seven LLCs filed for Chapter 11 reorganization in January. The lead debtor in the case is 6200 NE 2nd Avenue LLC. U.S. Bankruptcy Judge Robert A. Mark approved the sale of the 17 properties free and clear of liens on Oct. 31, and appointed Pompano Beach-based Fisher Auction Co. to run the auction.
Lamar Fisher said there is no stalking-horse bidder for the properties and no minimum bid amount. Fisher Auction will offer the properties for auction individually, but it would consider a bulk sale as well.
The lead lender has a right to bid using its credit, he added.
“We feel confident we will get a lot of interest,” Fisher said. “The property has great zoning. T4 and T5 allows multifamily, commercial, retail, office, bars or restaurants. It’s a great opportunity for investment and development.”
The auction will take place Dec. 15 at 11 a.m. at the Sheraton Miami Airport Hotel, although bidding may also take place online.
Nine of the properties have buildings and eight are vacant. Here’s a full list:
• 6200 and 6212 N.E. Second Ave., plus 165 N.E. 62nd Court, with 4,900 square feet of retail on 17,630 square feet of land
• 5901 and 5911 N.E. Second Ave., plus 207 N.E. 59th St., with 9,871 square feet of retail and apartments on 16,079 square feet of land
• 5900 N.E. Second Ave. and 185 N.E. 59th St., with 8,452 square feet of retail and apartments on 11,777 square feet of land
• 5700, 5716 and 5720 N.E. Second Ave., with 4,896 square feet of retail on 13,640 square feet of land
• 175 N.E. 55th St. and 184 N.E. 56th St., with two apartments totaling 2,320 square feet on 23,963 square feet of land
• 5524 N.E. Second Ave., with 160 square feet of retail on 6,318 square feet of land
• 6229 N.E. Second Ave., with a 4,155-square-foot commercial building on 12,120 square feet of land
• 5823 N.E. Second Ave., with a 676-square-foot restaurant on a 5,244-square-foot lot
• 175 N.E. 59th St., a 5,400-square-foot lot
More developers have focused on Little Haiti in recent years, especially because the 8.2 million-square-foot Magic City Innovation District is in the works there.
Miami-based attorneys Geoffrey Aaronson, Steven Beiley and Tamara McKeown represent the debtors in U.S. Bankruptcy Court. The mortgage with Chemtov accounted for most of their debt.
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