Hotel Developer Falor Goes Broke Even With Celebrity Backing
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
What do George Clooney, Michael Jordan, and Nicky Hilton have in common?
They all were fooled by a condo hotel developer Robert Falor. He professed to be worth a billion but now does not even have a bank account. Huge deals to build condo hotels were floated by Falor who seemed to have all the connections, but at the end of the day all he left was a string of bad debts when the real estate market collapsed.
Robert Falor may just be the poster child of the real estate bubble of the turn of the century.
Today, the king’s realm is nearly bankrupt. In Miami Beach, two hotels in the high-gloss South Beach neighborhood that he planned to market under Ms. Hilton’s name became the haunts of squatters rather than stars and were auctioned in the spring. Another Miami Beach hotel, the Royal Palm, also slipped from his grasp, in 2007 — as did relationships with his partners in that deal, Mr. Peebles and Mr. Gerber.
Former business associates assert in lawsuits that Mr. Falor, 40, pretended to own property that wasn’t his, used business funds for personal toys like luxury cars and a private jet, and otherwise mismanaged his finances. via NYTimes.com.
I agree. The flood gates have been opened and it will be some time before they close. The ...
I agree, using an auction is not only smart, it's really the best way to sell in any market. ...
Do people not check into things anymore? Its people like this that give craigslist the bad name... I ...
That's a great idea for getting a great understanding of the optimal price for a piece of Real Estate 
This is the situation for not only CB Richard Ellis but all commercial firms that are in the business of ...
That is too funny! 
A faulty system? The only way a head activates is by heat unless it is tampered with.. Every system is ...
IM in need of a job bad can i stillm apply for a positon at the kia plant ill take ...
This isn't completely accurate because major cities have good and bad suburbs. The suburbs are part of the major city, ...
Comment by vin on 4 September 2008:
robert falor and his family have ownership in the tides melbourne beach fl. as well as corporate llc in other hidden properties keep looking don’t let them fool you look up chris falor holly falor jenifer falor david falor where did they get there money including robert and chris falor childrens funds. follow there tracks