Tuesday, July 12, 2011

Lubavitch Education Center faces foreclosure - Minneapolis / St. Paul Business Journal:

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’s 84,020-square-foot, seven-story building on seven along with two other is named inthe $8 million foreclosure lawsuit filed on June 23 by the Ala-based bank in Miami-Dade County Circuit Court. The nonprofit cented is affiliated with theChabad Lubavitch, an orthodox Jewish movemenrt that has temples and education centers throughouf the world. The foreclosure names the nonprofit Friendds of Lubavitch of Florida andthe for-profit 17330 NW 7 LLC. Rabbik Bentzion Korf, who is listed on the LubavitcuEducation Center’s Web site as the director, managesx both entities, which took an $8 milliomn loan from the bank in 2004. Korf didn’t immediately returnn a call seeking comment.
The center was founded in 1973 as the firstrabbinical college, or yeshiva, in the southeasternh U.S. Orthodox Jews from throughout South Florida send thei children there forreligious education. In additiob to the main campus, which is located near Golden Glades, the foreclosure targets the 30,750-square-foot educationn center at 1114 Alton Road in Miami Beachj anda 3,363-square-foot apartment building at 1231 13th St. in Miamui Beach. Miami-based attorney Elizabeth Dombovary, who represents Regiond Bank inthe lawsuit, didn’ty immediately return a call seeking comment.

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