Broward News

Bank of America Forecloses on Its Own Branch, Providing Much-Needed Anecdote

Our neck of the woods is still making news these days in the building-bubble world: Yesterday's housing numbers saw prices in South Florida hit a new low, and many of the houses that are being sold are foreclosures. Some routine housing-market data, then, but wait... we need an anecdote! How else will we wryly illustrate just how bad things have gotten while keeping the story lighthearted?

Ahh, here we go! We were just watching the left-wing talking heads on MSNBC last night, minding our own business, when we

came across another loopy Florida tale of the mortgage crisis. The story was out of the pages of last Friday's South Florida Business Journal. Turns out that Bank of America has foreclosed on a retail building... which contains one of its own bank branches.

The paper reports that the Bank of America branch, which includes a drive-through, is the main tenant of the building, located at 114 N. Federal Highway in Boynton Beach. The owner is One Boynton LLC, which bought the property for $9 million in 2005.

An 18,000-square-foot unit in the building is listed for more than $400 grand a year.

View Larger Map

Follow The Pulp on Facebook and on Twitter: @ThePulpBPB.

KEEP NEW TIMES BROWARD-PALM BEACH FREE... Since we started New Times Broward-Palm Beach, it has been defined as the free, independent voice of South Florida, and we'd like to keep it that way. With local media under siege, it's more important than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" program, allowing us to keep offering readers access to our incisive coverage of local news, food and culture with no paywalls.
Stefan Kamph
Contact: Stefan Kamph