Nantucket's Point Breeze "Developer" Blowing in the Wind

Palm Beach real estate investor, Bob Matthews’ foreclosed Point Breeze, will be auctioned on February 23. Matthews owes over $42,000,000 on the property. Matthews also can lay claim to the country’s largest unpaid residential property-tax bill for $501,172 on his Florida home. He also recently lost his office complex at 205 Royal Palm Way, where he and his company owed $20,000,000. His unfinished Palm House hotel was sold last September for $10,000,100, where the owner plans to complete the project.

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