Real Estate News

Convicted mobster’s Miami Beach condos sell for $2.33 million at bankruptcy auction

The Fontainebleau II in South Beach.
The Fontainebleau II in South Beach. File

It was an offer he couldn’t refuse.

After filing for bankruptcy last year, convicted loan shark Mel Cooper had to put three condo units he owns at the Fontainebleau II up for sale. The units sold Thursday for a combined $2.33 million at a live bankruptcy auction held jointly in Miami Beach and New York City. The proceeds will be used to help pay off debts at a company controlled by Cooper called Imperial Capital.

The New York-based businessman and his son David bought the three units at the South Beach resort for $1.44 million in 2005.

Cooper went to federal prison in 1985 for participating in a racketeering operation that prosecutors said was linked to the Gambino and Colombo organized-crime families.

The Miami Herald determined that Cooper had served time by comparing court documents and corporate records with tax papers filed for the Fontainebleau units.