J. Mudd, wow what a history you have described! Thank you very much for all of that amazing information on the building.
Don
Guest
24-May-2012 17:30
THE BUILDING IN THE CENTER-THE ONE BISCAYNE BUILDING WAS DEVELOPED IN THE EARLY SEVENTIES BY THE GUTERRIEZ BROTHERS --ARCHETECTS FROM PEURTO RICO--BUT OF CUBAN DESCENT--THE CONSTRUCTION MONEY WAS LOANED BY CONTINENTAL MORTAGE INVESTORS OF CORAL GABLES---CMI---THE BUILDING WAS NOT SUCCESSFUL AND UPON COMPLENTION THE GUTIERREZ BROS COULD NOT PAY THE MORTAGE SO THEY AGREED TO TRANSFER VTHE BUILDING BACK TO CMI IN EXCHANGE FOR THE RELEASE OF THEIR PERSONAL GUARANTEES--FOR VARIOUS LEGAL REASONS IT WAS CONVEYED TO A STRAW CORPORATION TO BE HELD BY A CARETAKER--IN ADDITION TO A NEW MORTGAGE THE STOCK OF THE STRAW CORPORATION WAS PLEDGED AS SECURITY FOR THE NEW MORTGAGE LOAN--WHEN CMI ITSELF WENT INTO CHAPTEWR 11 BANKRUPTCY IT REQUESTED THAT THE CARE TAKER OWNER CONVEY THE BUILDING TO CMI BUT HE REFUSED--RATHER THAN FORECLOSE THE MORTAGE WHICH COULD HAVE TAKEN YEARS CMI ADVERTISED THE SALE OF THE PLEDGED STOCK UNDER THE UNIFORM COMMERCIAL CODE AND SOLD IT ON THE STEPS OF THE COURT HOUSE IN BOSTON MASSACHUSETTS WHERE CMI S BANKRUPTCY PROCEEDINGS WERE BEING HELD--IT WAS PURCHASED FOR THE NOMINAL SUM OF TEN DOLLARS--THUS THE BUILDING WAS BOUGHT FOR TEN DOLLARS--AND THE SALE WAS HELD VALID BY THE DADE COUNTY CIRCUIT COURT--THEN IT WAS AUCTIONED AND SOLD PURSUANT TO CMI S BANKRUPFCY PROCEEDINGS FOR APPROXIMATELY TWENTY MILLION DOLLARS-- J MUDD
Marilyn E. G.
21-May-2007 00:18
Guest: Moved to Miami in 1941 from New Jersey. Went to Silver Bluff Elem. and then the war broke out. Moved back to New Jersey until 1945 and back to Miami. Graduated from Ponce de Leon HS in 1950. Met my husband in my senior year and still married to him for 55 years. Had 5 kids, went to Miami Dade in 1967 and then the U of Miami and graduated in 1971 with a BED and in 1975 with a MED. (late bloomer) Taught school at South Miami Heights until we moved to Burnsville, NC in 1991. Left with some wonderful memories of sock hops, Jephson's Pharmacy, the Gables Theater, the old jalopies we used to drive around in, the Venetian Pool, our kids growing up there and so much more. And oh, the sunrise from any place on South Beach. I cried the day we packed the last suitcase in the car and backed out of our drive on Riviera Drive in Coral Gables. So many memories...Eastern Airlines and trying to get seven people on board for flights using passes, camping down the Keys, the Hialeah Speedway, and who can ever forget the wonderful Orange Bowl parades and the games?
