A Dozen Lots In Miami’s Coconut Grove Sold Out Of Receivership For $16.5 Million

A dozen home lots in various stages of development throughout Coconut Grove were sold out of court-appointed receivership for $16.5 million.

The lots were previously controlled by homebuilder Douglas Cox of Send Enterprises.

Alan S. Fine, as court appointed receiver for Send Enterprises LLC, sold the 12 lots, with permission from Miami-Dade Judge Thomas Rebull, to Red Treehouse LLC, a company registered in Wyoming. Court records in the receivership case show the buyer is managed by Phillip Sylvester in Coral Gables.

Send Enterprises was placed into receivership with Fine in May 2023. This appointment took place in a lawsuit where Send Enterprises sued Set Drive LLC, which then countersued and asked that a receiver be appointed. Set Drive accused Send Enterprises of diverting home purchase deposits for other uses outside of homebuilding. Cox denies those claims.

The properties that changed hands were:

  • A 9,945-square-foot lot at 2050 Secoffee Street.
  • A 7,532-square-foot lot at 2923 S.W. 30th Court.
  • A triplex of 2,593 square feet on a 7,950-square-foot lot at 3046 Bird Road.
  • A duplex of 1,512 square feet on a 6,559-square-foot lot at 3050 Bird Ave.
  • A 6,250-square-foot lot at 3056 Day Ave.
  • A 1,078-square-foot home on a 7,500-square-foot lot at 3075 McDonald Street.
  • A 727-square-foot home on a 7,500-square-foot lot at 3077 McDonald Street.
  • A 12,600-square-foot lot at 3159 Virginia Street.
  • A 7,500-square-foot lot at 3161 Gifford Lane.
  • A 7,500-square-foot lot at 3165 Gifford Lane.
  • An 18,125-square-foot lot at 3850 Plaza Street.
  • A 9,660-square-foot lot at 4150 Woodridge Road.

All of the properties were among the 20 home sites Altamar Financial Group named in a May 2023 foreclosure lawsuit against Send Enterprises and Cox over a $33.15 million loan. That lawsuit remains pending.

According to Fine’s August 2023 motion to auction those 12 lots, the proceeds from the sale will be held in escrow pending resolution of the case.


Source: SFBJ

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