{"id":1873,"date":"2025-11-13T10:50:46","date_gmt":"2025-11-13T15:50:46","guid":{"rendered":"https:\/\/www.brickellsold.com\/blog\/chetrits-broward-dev-site-condo-units-head-to-ucc-auction\/"},"modified":"2026-04-13T10:35:27","modified_gmt":"2026-04-13T14:35:27","slug":"chetrits-broward-dev-site-condo-units-head-to-ucc-auction","status":"publish","type":"post","link":"https:\/\/www.brickellsold.com\/blog\/chetrits-broward-dev-site-condo-units-head-to-ucc-auction\/","title":{"rendered":"Chetrits Broward Dev Site: 7 Proven Chetrit\u2019s Broward Dev Site, Condo Units Head to UCC Auction: Mistakes to Avoid"},"content":{"rendered":"
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Chetrit Group\u2019s waterfront condo development site in Pompano Beach and its units at the Hollywood Beach Resort condo are headed to a Uniform Commercial Code foreclosure auction.\u00a0<\/p>\n

Chetrits Broward Dev Site<\/strong> helps improve planning, consistency, and publishing quality when teams follow a repeatable workflow.<\/p>\n

The lender that provided a $17.2 million loan on both properties in 2022 filed for the UCC foreclosure, according to a public notice published in the South Florida Sun Sentinel and FloridaPublicNotices.com. The auction will be held on Dec. 22, seeking to generate $21.7 million to cover the debt\u2019s principal, interest, default interest and reasonable fees and costs.\u00a0<\/p>\n

UCC auctions are non-judicial processes in which the ownership interest in the entities that own properties is sold, meaning the winning bidder assumes ownership of the limited liability company holding the real estate. Generally, mezzanine lenders file for UCC foreclosures, which proceed faster than traditional foreclosures that can drag through the courts.\u00a0<\/p>\n

Chetrit\u2019s properties are the 2.5-acre vacant Pompano Beach site at 2507 and 2629 North Ocean Boulevard and 102 condo units at the Hollywood Beach Resort at 101 North Ocean Drive, according to property records. The firm has long planned a 121-unit condo project on the Pompano Beach site with a 20-slip marina. Construction hasn\u2019t started, records show.\u00a0<\/p>\n

Joseph Chetrit declined to comment.\u00a0\u00a0<\/p>\n

Borrowers can work out forbearance agreements with lenders by extending loan maturities or securing equity partners, often to postpone auctions to give them more time to come up with capital.\u00a0<\/p>\n

Both sites are encumbered with debt from New York-based Madison Realty Capital, led by Josh Zegen, Brian Shatz and Adam Tantleff. In 2022, Madison provided Chetrit with a $94 million loan on the Pompano Beach property and a $78 million loan to purchase the Hollywood Beach Resort units.\u00a0<\/p>\n

Last year, Chetrit avoided a UCC foreclosure attempt by Madison on the loans by chipping in a significant amount of capital to refinance the debt, extending the Pompano Beach financing by six months and the Hollywood Beach Resort financing by a year, a source told The Real Deal <\/em>\u00a0at the time.\u00a0<\/p>\n

Madison declined to comment.\u00a0<\/p>\n

Madison has been a frequent lender to Chetrit. In 2021, it provided a $310 million construction loan for Chetrit\u2019s planned 4 million-square-foot project on the Miami River that at full buildout would include 1,900 apartments and condos; 39,000 square feet of retail, office space; a 17-slip marina and 770 parking spaces.\u00a0<\/p>\n

The first phase, consisting of a 54-story, 632-unit luxury apartment tower on the site at 275 Southwest Sixth Street in Miami, is nearly completed.\u00a0<\/p>\n

This year, Adam Neumann\u2019s Flow, Canada Global and billionaire Yakir Gabay\u2019s Yellowstone Trust bought a partnership stake in the Miami River project. Chetrit kept a \u201csignificant minority\u201d stake.\u00a0<\/p>\n<\/div>\n

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!important;}.has-midnight-gradient-background{background: var(–wp–preset–gradient–midnight) !important;}.has-small-font-size{font-size: var(–wp–preset–font-size–small) !important;}.has-medium-font-size{font-size: var(–wp–preset–font-size–medium) !important;}.has-large-font-size{font-size: var(–wp–preset–font-size–large) !important;}.has-x-large-font-size{font-size: var(–wp–preset–font-size–x-large) !important;}”,”type”:”list”,”__typename”:”StyleItem”}],”post”:{“id”:”cG9zdDoxMDAwNDA1″,”databaseId”:1000405,”title”:”Chetrit\u2019s Pompano Beach condo dev site, Hollywood Beach Resort units head to UCC auction”,”status”:”publish”,”slug”:”chetrits-broward-dev-site-condo-units-head-to-ucc-auction”,”uri”:”\/miami\/2025\/11\/13\/chetrits-broward-dev-site-condo-units-head-to-ucc-auction\/”,”link”:”https:\/\/therealdeal.com\/miami\/2025\/11\/13\/chetrits-broward-dev-site-condo-units-head-to-ucc-auction\/”,”dateGmt”:”2025-11-13T15:30:00″,”contentTypeName”:”post”,”contentFiltered”:”u003cpu003eChetrit Group\u2019s waterfront condo development site in Pompano Beach and its units at the Hollywood Beach Resort condo are headed to a Uniform Commercial Code foreclosure auction.u0026nbsp;u003c\/pu003enu003cpu003eThe lender that provided a $17.2 million loan on both properties in 2022 filed for the UCC foreclosure, according to a public notice published in the South Florida Sun Sentinel and u003ca href=”http:\/\/floridapublicnotices.com”u003eFloridaPublicNotices.comu003c\/au003e. The auction will be held on Dec. 22, seeking to generate $21.7 million to cover the debt\u2019s principal, interest, default interest and reasonable fees and costs.u0026nbsp;u003c\/pu003enu003cpu003eUCC auctions are non-judicial processes in which the ownership interest in the entities that own properties is sold, meaning the winning bidder assumes ownership of the limited liability company holding the real estate. Generally, mezzanine lenders file for UCC foreclosures, which proceed faster than traditional foreclosures that can drag through the courts.u0026nbsp;u003c\/pu003enu003cpu003eChetrit\u2019s properties are the 2.5-acre vacant Pompano Beach site at 2507 and 2629 North Ocean Boulevard and 102 condo units at the Hollywood Beach Resort at 101 North Ocean Drive, according to property records. The firm has long planned a u003ca href=”\/miami\/2016\/08\/03\/pompano-beach-delays-action-on-chetrits-mixed-use-project\/”u003e121-unit condo projectu003c\/au003e on the Pompano Beach site with a 20-slip marina. Construction hasn\u2019t started, records show.u0026nbsp;u003c\/pu003enu003cpu003eJoseph Chetrit declined to comment.u0026nbsp;u0026nbsp;u003c\/pu003enu003cpu003eBorrowers can work out forbearance agreements with lenders by extending loan maturities or securing equity partners, often to postpone auctions to give them more time to come up with capital.u0026nbsp;u003c\/pu003enu003cpu003eBoth sites are encumbered with debt from New York-based Madison Realty Capital, led by Josh Zegen, Brian Shatz and Adam Tantleff. In 2022, Madison provided Chetrit with a u003ca href=”\/miami\/2022\/05\/20\/chetrit-scores-94m-construction-loan-for-oceanfront-condo-project-in-pompano\/”u003e$94 millionu003c\/au003e loan on the Pompano Beach property and a u003ca href=”\/miami\/2022\/05\/13\/redevelopment-ploy-chetrit-buys-102-condos-at-aging-oceanfront-hollywood-beach-resort\/”u003e$78 millionu003c\/au003e loan to purchase the Hollywood Beach Resort units.u0026nbsp;u003c\/pu003enu003cpu003eLast year, Chetrit avoided a UCC foreclosure attempt by Madison on the loans by chipping in a significant amount of capital to refinance the debt, extending the Pompano Beach financing by six months and the Hollywood Beach Resort financing by a year, a source told u003cemu003eThe Real Deal u003c\/emu003eu0026nbsp;at the time.u0026nbsp;u003c\/pu003enu003cpu003eMadison declined to comment.u0026nbsp;u003c\/pu003enu003cpu003eMadison has been a frequent lender to Chetrit. In 2021, it provided a u003ca href=”\/miami\/2021\/11\/04\/chetrit-scores-310m-construction-loan-for-miami-river-mixed-use-project\/”u003e$310 millionu003c\/au003e construction loan for Chetrit\u2019s planned 4 million-square-foot project on the Miami River that at full buildout would include 1,900 apartments and condos; 39,000 square feet of retail, office space; a 17-slip marina and 770 parking spaces.u0026nbsp;u003c\/pu003enu003cpu003eThe first phase, consisting of a 54-story, 632-unit luxury apartment tower on the site at 275 Southwest Sixth Street in Miami, is nearly completed.u0026nbsp;u003c\/pu003enu003cpu003eThis year, Adam Neumann\u2019s Flow, Canada Global and billionaire Yakir Gabay\u2019s Yellowstone Trust bought a u003ca href=”\/miami\/2025\/08\/12\/adam-neumann-flow-yakir-gabay-partner-w-chetrit-on-miami-river\/”u003epartnership stakeu003c\/au003e in the Miami River project. Chetrit kept a \u201csignificant minority\u201d stake.u0026nbsp;u003c\/pu003en”,”noAds”:false,”alternativeHeadline”:{“subheadline”:”A lender provided a $17M loan in 2022″,”__typename”:”AlternativeHeadline”},”updatedPost”:{“updated”:false,”date”:”2025-11-13T15:41:00+00:00″,”__typename”:”UpdatedPost”},”aiSummary”:{“summary”:”u003cpu003eu003c!– wp:list –u003eu003c\/pu003ernu003cul class=”wp-block-list”u003eu003c!– wp:list-item –u003ernu003cliu003eChetrit Group\u2019s waterfront condo development site in Pompano Beach and 102 units at the Hollywood Beach Resort are set for a Uniform Commercial Code (UCC) foreclosure auction on Dec. 22.u003c\/liu003ernu003c!– \/wp:list-item –u003ernrnu003c!– wp:list-item –u003ernu003cliu003eThe auction is being pursued by a mezzanine lender who provided a $17.2 million loan in 2022 and is seeking to generate $21.7 million to cover the total debt, interest, and fees.u003c\/liu003ernu003c!– \/wp:list-item –u003ernrnu003c!– wp:list-item –u003ernu003cliu003eBoth properties are also encumbered with senior debt from Madison Realty Capital, and Chetrit Group had avoided a prior UCC foreclosure attempt by Madison last year by refinancing the debt.u003c\/liu003ernu003c!– \/wp:list-item –u003eu003c\/ulu003ernu003cpu003eu003c!– \/wp:list –u003eu003c\/pu003e”,”reviewed”:true,”disabled”:false,”autoGenerate”:false,”__typename”:”AISummary”},”audioArticleSettings”:{“audioUrl”:”https:\/\/eleven-public-cdn.elevenlabs.io\/audio-native\/a24c95b71e45d877e2798ceb32ef0ff8b1d79dced18bffc58f5b3a0c6e8468ac\/IXf23TiSeulMG4jJ0v6P\/IXf23TiSeulMG4jJ0v6P.mp3″,”__typename”:”AudioArticleSettings”},”mainArt”:{“mediaType”:”image”,”image”:{“node”:{“sourceUrl”:”\/wp-content\/uploads\/2025\/11\/MIA_Chetrit-Pompano-Beach-1400×933.jpg”,”srcSet”:”\/wp-content\/uploads\/2025\/11\/MIA_Chetrit-Pompano-Beach-1400×933.jpg 1400w, \/wp-content\/uploads\/2025\/11\/MIA_Chetrit-Pompano-Beach-300×200.jpg 300w, \/wp-content\/uploads\/2025\/11\/MIA_Chetrit-Pompano-Beach-700×467.jpg 700w, \/wp-content\/uploads\/2025\/11\/MIA_Chetrit-Pompano-Beach-200×133.jpg 200w, \/wp-content\/uploads\/2025\/11\/MIA_Chetrit-Pompano-Beach-768×512.jpg 768w, \/wp-content\/uploads\/2025\/11\/MIA_Chetrit-Pompano-Beach-1024×683.jpg 1024w, \/wp-content\/uploads\/2025\/11\/MIA_Chetrit-Pompano-Beach-50×33.jpg 50w, \/wp-content\/uploads\/2025\/11\/MIA_Chetrit-Pompano-Beach.jpg 1500w”,”sizes”:”(max-width: 1400px) 100vw, 1400px”,”caption”:”u003cpu003eChetrit Groupu0026#8217;s Joseph Chetrit with the dev site at 2629 North Ocean Boulevard in Pompano Beach and u0026#8230;u003c\/pu003en”,”altText”:”Chetrit Group’s Joseph Chetrit with the dev site at 2629 North Ocean Boulevard in Pompano Beach and the Hollywood Beach Resort at 101 North Ocean Drive”,”__typename”:”MediaItem”},”__typename”:”AcfMediaItemConnectionEdge”},”video”:null,”caption”:”Chetrit Group’s Joseph Chetrit with the dev site at 2629 North Ocean Boulevard in Pompano Beach and the Hollywood Beach Resort at 101 North Ocean Drive (Getty, Chetrit Group, Google Maps)”,”__typename”:”MainArt”},”featuredImage”:{“node”:{“sourceUrl”:”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/MIA_Chetrit-Pompano-Beach-1400×933.jpg”,”srcSet”:”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/MIA_Chetrit-Pompano-Beach-1400×933.jpg 1400w, https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/MIA_Chetrit-Pompano-Beach-300×200.jpg 300w, https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/MIA_Chetrit-Pompano-Beach-700×467.jpg 700w, https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/MIA_Chetrit-Pompano-Beach-200×133.jpg 200w, https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/MIA_Chetrit-Pompano-Beach-768×512.jpg 768w, https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/MIA_Chetrit-Pompano-Beach-1024×683.jpg 1024w, https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/MIA_Chetrit-Pompano-Beach-50×33.jpg 50w, https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/MIA_Chetrit-Pompano-Beach.jpg 1500w”,”sizes”:”(max-width: 1400px) 100vw, 1400px”,”caption”:”u003cpu003eChetrit Groupu0026#8217;s Joseph Chetrit with the dev site at 2629 North Ocean Boulevard in Pompano Beach and u0026#8230;u003c\/pu003en”,”altText”:”Chetrit Group’s Joseph Chetrit with the dev site at 2629 North Ocean Boulevard in Pompano Beach and the Hollywood Beach Resort at 101 North Ocean Drive”,”mediaDetails”:{“sizes”:[{“width”:”1400″,”height”:”933″,”__typename”:”MediaSize”}],”__typename”:”MediaDetails”},”__typename”:”MediaItem”},”__typename”:”NodeWithFeaturedImageToMediaItemConnectionEdge”},”__typename”:”Post”,”template”:{“templateValue”:”right-rail”,”__typename”:”DefaultTemplate”},”seo”:{“title”:”Chetrit\u2019s Broward Dev Site, Condo Units Head to UCC Auction”,”fullHead”:”u003c!– This site is optimized with the Yoast SEO Premium plugin v26.0 (Yoast SEO v26.1.1) – https:\/\/yoast.com\/wordpress\/plugins\/seo\/ –u003enu003cmeta name=”description” content=”Chetrit Group\u2019s Pompano Beach condo development site and Hollywood Beach Resort units are headed to a UCC auction.” \/u003enu003cmeta name=”robots” content=”index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1″ \/u003enu003clink rel=”canonical” href=”https:\/\/therealdeal.com\/miami\/2025\/11\/13\/chetrits-broward-dev-site-condo-units-head-to-ucc-auction\/” \/u003enu003cmeta property=”og:locale” content=”en_US” \/u003enu003cmeta property=”og:type” content=”article” \/u003enu003cmeta property=”og:title” content=”Chetrit\u2019s Pompano Beach condo dev site, Hollywood Beach Resort units head to UCC auction” \/u003enu003cmeta property=”og:description” content=”Chetrit Group\u2019s Pompano Beach condo development site and Hollywood Beach Resort units are headed to a UCC auction.” \/u003enu003cmeta property=”og:url” content=”https:\/\/therealdeal.com\/miami\/2025\/11\/13\/chetrits-broward-dev-site-condo-units-head-to-ucc-auction\/” \/u003enu003cmeta property=”og:site_name” content=”The Real Deal” \/u003enu003cmeta property=”article:publisher” content=”https:\/\/www.facebook.com\/therealdealmedia\/” \/u003enu003cmeta property=”article:published_time” content=”2025-11-13T15:30:00+00:00″ \/u003enu003cmeta property=”og:image” content=”https:\/\/static.therealdeal.com\/wp-content\/uploads\/2025\/11\/MIA_Chetrit-Pompano-Beach.jpg” \/u003entu003cmeta property=”og:image:width” content=”1500″ \/u003entu003cmeta property=”og:image:height” content=”1000″ \/u003entu003cmeta property=”og:image:type” content=”image\/jpeg” \/u003enu003cmeta name=”author” content=”Lidia Dinkova” \/u003enu003cmeta name=”twitter:card” content=”summary_large_image” \/u003enu003cmeta name=”twitter:description” content=”Chetrit Group\u2019s waterfront condo development site in Pompano Beach and its units at the Hollywood Beach Resort condo are headed to a Uniform Commercial Code foreclosure auction.u0026nbsp; The lender that provided a $17.2 million loan on both properties in 2022 filed for the UCC foreclosure, according to a public notice published in the South Florida Sun Sentinel and FloridaPublicNotices.com. The auction will be held on Dec. 22, seeking to generate $21.7 million to cover the debt\u2019s principal, interest, default interest and reasonable fees and costs.u0026nbsp; UCC auctions are non-judicial processes in which the ownership interest in the entities that own [u0026hellip;]” \/u003enu003cmeta name=”twitter:creator” content=”@trdny” \/u003enu003cmeta name=”twitter:site” content=”@trdny” \/u003enu003cmeta name=”twitter:label1″ content=”Written by” \/u003entu003cmeta name=”twitter:data1″ content=”Steven Dilakian” \/u003entu003cmeta name=”twitter:label2″ content=”Est. reading time” \/u003entu003cmeta name=”twitter:data2″ content=”3 minutes” \/u003enu003cscript type=”application\/ld+json” class=”yoast-schema-graph”u003e{“@context”:”https:\/\/schema.org”,”@graph”:[{“@type”:”NewsArticle”,”@id”:”https:\/\/therealdeal.com\/miami\/2025\/11\/13\/chetrits-broward-dev-site-condo-units-head-to-ucc-auction\/#article”,”isPartOf”:{“@id”:”https:\/\/therealdeal.com\/miami\/2025\/11\/13\/chetrits-broward-dev-site-condo-units-head-to-ucc-auction\/”},”author”:[{“@type”:”Person”,”@id”:”https:\/\/therealdeal.com\/#\/schema\/person\/59ad643e34e525ba44cf385eb480dc46″,”name”:”Lidia Dinkova”,”image”:{“@type”:”ImageObject”,”url”:”https:\/\/secure.gravatar.com\/avatar\/8f50db554f29c280c6279bd8cbf09aa15dd40cda5b5963c6a80232b86912c185?s=96u0026#038;d=mmu0026#038;r=g”},”description”:”Lidia Dinkova covers South Florida real estate for The Real Deal. 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