Facing his third foreclosure lawsuit from the same lender, Bay Harbor Islands developer Irwin E. Tauber could lose his Biscayne Harbor Shops in Aventura to an affiliate of Bank of New York Mellon Corp.
On April 6, MUNB Loan Holdings filed a foreclosure lawsuit against Biscayne 181, Causeway Village and Tauber, the CEO of Taubco, according to Miami-Dade County Circuit Court records.
It concerns a combined $16.1 million in mortgages originally written by Mellon United National Bank in 2005 and 2006.
This is the latest in a long line of problems for Tauber over the past year.
In October, he put his 328,254-square-foot Vero Fashion Outlets in Vero Beach into Chapter 11 to halt a foreclosure lawsuit.
In February, MUNB filed two foreclosure lawsuits against Tauber and affiliated companies involving multifamily and commercial properties on Bay Harbor Islands.
MUNB’s latest lawsuit against Tauber targets the 49,252-square-foot shopping center at 18183 Biscayne Blvd. that belongs to Biscayne 181. Built in 1981, it was purchased for $14.3 million in 2006. Tenants include Olive Garden, Coldstone Creamery, Starbucks and U.S. Century Bank.