William L. Knight's House (Former)

William L. Knight is a South Florida business owner and property developer. Knight built this home on spec and placed it on the market for $19m. However, the nearly 11,000 sq/ft 3/4 acre oceanfront estate failed to sell and went into foreclosure. The private lender of the home, New York real estate investor Norman Rappaport, bought out Knight's ownership of the home for $2.15m and then placed it back on the market for $16.5m.
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Anonymous picture
Anonymous
@ 2012-07-11 07:25:26
Boy have you got this information all wrong! But then again, it would be hard for someone to know the real facts, and even find then unbelievable, unless they were to contact the Knights.

And I must mention the property is over an acre. Tax rolls STILL have the "old" 1989 house on file, and never came out to the property after the new C.O. was issued in 2004 to change the records.
jdubble07 picture
@ 2012-07-11 15:47:06
Try again. The home is owned by RAP KNIFORE LLC, the president of which is Norman P. Rappaport. http://sunbiz.org/scripts/cordet.exe?action=DETFIL&inq_doc_number=L08000073725&inq_came_from=NAMFWD&cor_web_names_seq_number=0000&names_name_ind=&names_cor_number=&names_name_seq=&names_name_ind=&names_comp_name=RAPKNIFORE&names_filing_type=

The county records are rarely wrong on year built. If they're still showing 1989 as the year built, that means that the home was a major remodel, meaning a number of original load bearing walls were kept which is usually done for tax purposes.
Anonymous picture
Anonymous
@ 2015-07-21 08:45:42
And for the rest of the story...fast forward September 2014: First Mortgage holder U.S. Bank FINALLY foreclosed on loan shark Norman P Rappaport, 2nd mortgage holder who had refused to pay off the first mortgage at 50 cents on the dollar, and kept the property in the courts for six years keeping his promise to NOT maintain the oceanfront estate, reducing it to a tear down. In a twist of fate, Realtor Bev Knight of Ocean Estate Properties, and wife of William L Knight, listed and sold it for $8.335M in November 2014 for the new buyer who bought it from the bank for $7.55M. It went back on the market for $11.5M land value (RML-zoning) for multi-family and just recently got its Town approvals for six town homes. The sale is pending.