Palm Beach County Property Heads Toward Bankruptcy Sale After $43M Foreclosure Judgment

A long-vacant Palm Beach County property tied to boxing promoter Don King may be headed for a court-supervised sale after an affiliated entity filed for Chapter 11 bankruptcy protection.

The filing involves DK Arena and the former jai alai fronton at 1415 45th Street in Mangonia Park, a 53-acre site that had been scheduled for foreclosure auction. The bankruptcy action halted the sale after a Taylor Made Lending affiliate obtained a $43 million foreclosure judgment tied to loans, fees and costs.

According to the filing, DK Arena listed liabilities between $50 million and $100 million. Rather than pursuing a typical reorganization, the case is expected to function as a structured path to sell the property through a competitive bidding process, with a marketing plan anticipated within a 90-day window.

The site has long attracted developer interest because of its scale, location and proximity to transit. Part of the property is used for parking by the neighboring Tri-Rail station, positioning the land as a potential candidate for a large transit-oriented residential project, including workforce housing, apartments or townhomes.

The former fronton dates back to the 1950s, was rebuilt after a fire in the late 1970s and has been closed since 1994. King’s late wife, Henrietta King, acquired the property in 1999 for $6.3 million with plans for a sports and entertainment complex, but those plans never materialized.

The tract is especially significant because it accounts for nearly half of Mangonia Park’s land area. Town officials have reportedly received frequent inquiries from developers, although infrastructure remains a major hurdle. The town’s drinking water system is already operating at about 75 percent capacity, meaning any future redevelopment may require investment in expanded water storage before construction can move forward.

Source: The Real Deal