4 beachside condos to be auctioned in foreclosure case

VERO BEACH – Four condominium units at the Vero Beach Hotel and Club on Ocean Drive will be auctioned next month to resolve a foreclosure case against the condos’ owner.

The units, appraised at $3.7 million, will be auctioned off at the Indian River County Courthouse starting at 11 a.m. on May 11.

 

Circuit Court Judge Paul Kanarek filed a $2.9 million foreclosure ruling against condo owner Stephen McKenzie.

McKenzie failed to make a mortgage payment on his four units, according to court records, which prompted the bank to call up the remaining $2.79 million on the mortgage.

The four units include 206, 314, 407 and 414 and range in appraised value between $795,000 and $1.25 million.

McKenzie took out a mortgage in February 2009 for the condominium units and made the payments up until June, when he missed a payment, the court filing shows.

The foreclosure auction will be held in Room 136 at the Indian River County Courthouse, 2000 16th Ave., Vero Beach, at 11 a.m. It is unclear if the four units will be individually auctioned off or sold as a group.

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