Cabi Developers sells Miami Beach office building for $15M

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Cabi Developers sold a Miami Beach office building out of U.S. Bankruptcy Court for $15.13 million, reports South Florida Business Journal.

The debtor’s property was the 39,638-square-foot office building at 301 Arthur Godfrey Road. Built in 1963, the building’s main tenant is HSBC Bank.

U.S. Bankruptcy Judge A. Jay Cristol approved the sale of the building for $15.13 million to Netz Bonds Miami-HSBC LLC.

The buyer is managed by Menachem Gurevitch, of New Haven, Conn., and it used a $10.65 million mortgage from The Bancorp Bank.

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