Lubavitch Education Center faces foreclosure
South Florida Business Journal - by Brian Bandell
The Lubavitch Education Center’s 84,020-square-foot, seven-story building on seven acres, along with two other properties, is named in the $8 million foreclosure lawsuit filed on June 23 by the Birmingham, Ala-based bank in Miami-Dade County Circuit Court.
The nonprofit center is affiliated with the Chabad Lubavitch, an orthodox Jewish movement that has temples and education centers throughout the world.
The foreclosure names the nonprofit Friends of Lubavitch of Florida and the for-profit 17330 NW 7 LLC. Rabbi Bentzion Korf, who is listed on the Lubavitch Education Center’s Web site as the director, manages both entities, which took an $8 million loan from the bank in 2004.
Korf didn’t immediately return a call seeking comment.
The center was founded in 1973 as the first rabbinical college, or yeshiva, in the southeastern U.S. Orthodox Jews from throughout South Florida send their children there for religious education.
In addition to the main campus, which is located near Golden Glades, the foreclosure targets the 30,750-square-foot education center at 1114 Alton Road in Miami Beach and a 3,363-square-foot apartment building at 1231 13th St. in Miami Beach.
Miami-based attorney Elizabeth Dombovary, who represents Regions Bank in the lawsuit, didn’t immediately return a call seeking comment.
[Hat Tip: Joel Katz.]