South Beach Apartment Building – Existing Structure, vacant in need of renovation – IN FORECLOSURE - This property is located just steps off Lincoln Road in South Beach. The property was purchased to convert to condos but was not completed before the market weakened. The property is three stories and has 24 units, all one bedroom, one bath units. Total sq ft is 15,600 (650 sq ft average) and the lot size is 7,000. Cross collateralized with another property, both of which are in foreclosure. The loan amount is $4.13MM.