Florida Highrise Has 32 Stories, But Just 1 Tenant

FORT MYERS, Fla. -- It's a symbol of the foreclosure crisis: An opulent 32-story Florida condo building with just one problem -- only one family lives there.

The New Jersey family of five purchased their unit four years ago, when there weren't many hints of an impending financial crisis.

Since then, the few tenants who closed their contracts transferred to an adjacent building owned by the same company because more people live there.

The mortgage lender for Victor Vangelakos and his family won't allow them to do the same.

The condo has marble floors, a large pool overlooking a river and modern furnishings.

The automatic glass lobby doors are locked. The last entry in the guest sign-in sheet is from Feb. 13.

Betsy McCoy of The Related Group, which sold the family their unit, says the family has rejected solutions, including a unit in the building next door, free of cost, while the situation is resolved.


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Comments are posted from viewers like you and do not always reflect the views of this station.
  • by JIM HALL Location: AHOSKIE , NC on Aug 3, 2009 at 06:30 PM
    THIS IS THE PRICE YOU PAY FOR OVER BUILDING WITH SATATURATION BUILDING AN THINKING THAT IT WAS ALL GOING TO SELL AT ONE TIME FOR MILLIONS OF DOLLARS IN PROFITS HA HA HA FOOL YOU DIDN'T I . THIS ECONMONY REAL SUCKS DOESN'T IT
  • by Babe Location: Ayden on Aug 3, 2009 at 09:21 AM
    Only 3 comments posted at the time I want writing this..to Concerned only other 2 comments posted Obama is not being blamed, learn to read and/or comprehend.
  • by sick of it Location: thinking WOW on Aug 3, 2009 at 08:59 AM
    People are blaming Obama just like people blamed Bush..it is easy to put the blame on someone else and not yourself...when in all reality no one put you there but yourself!!!
  • by Concerned Location: Greenville on Aug 2, 2009 at 09:36 PM
    Why does everyone feel the need to blame Obama for everything that he had nothing to do with? Get over it people, he is the President like it or not.
  • by voter Location: nc on Aug 2, 2009 at 06:38 PM
    just occurred to me,,,is the one tennent a subprime borrower being bailed out by the taxpayers??
  • by voter Location: nc on Aug 2, 2009 at 01:57 PM
    use the timmy turbo tax gaither solution to pay the mortgage. simply raise the tennants rent to six hundred thousand a month. it works for obama.
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