FL 6801 high bidder for Miami property Z Capital offers $21.6 million

By Kali Hays

New York, Aug 26 – FL 6801 Spirits LLC’s high bidder for the sale of a condominium property in Miami Beach, Fla., Z Capital Partners, LLC, offered an aggregate purchase price of $21.6 million, according to a purchase agreement filed Aug. 26 with the U.S. Bankruptcy Court for the Southern District of New York.

The property includes a hotel lot, spa, and 13 condominium units.

As previously reported, 360 Miami Hotel & Spa LLC was the stalking horse bidder for the assets with a $12 million offer.

Under the stalking horse agreement, 360 Miami is entitled to a $320,000 breakup fee plus $120,000 of termination expenses.

The sale hearing is scheduled for Sept. 12. A status conference is scheduled for Aug. 27.

FL 6801 Spirits is a New York-based subsidiary of Lehman Brothers Holdings Inc., which was the fourth-largest investment bank in the United States. The company filed for bankruptcy on June 1 under Chapter 11 case number 14-11691.

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