Palm Beach hotel in $60M foreclosure

Swiss bankers want to strip Ceebraid-Signal Corp. of its Omphoy Ocean Resort in Palm Beach over a $60 million defaulted mortgage.  Stabfund USA filed a foreclosure against CSC PB Beach over the 134-room hotel at 2842 S. Ocean Blvd.  Ceebraid-Signal redeveloped the hotel and reopened it in early 2009. The hotel has 101,384 square feet on a 2.7-acre oceanfront site.  The company owns three other hotels in South Florida.  The boutique hotel has custom-designed furniture in each guestroom and an Asian-themed bar. It’s the home of a Michelle Bernstein at The Omphoy, a restaurant run by the Iron Chef America winner.   For  full report click here…Biz Journals. FYI – Ceebraid-Signal also owns the Mayfair in Miami, Gulfstream Hotel in Lake Worth, and Brazilian Court Condo Hotel in Palm Beach….JLD

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