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.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
WITN

275 E. Arlington Blvd. Greenville, NC 27858 252-439-7777
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 52303207 - witn.com/a?a=52303207
Gray Television, Inc.