Florida's Business Law Firm
Fort Lauderdale Phone954-767-9662
30 years Team AV

Clients Reviews

Boca Raton Mall Sues Jeweler For $152,000 in Unpaid Rent

In October 2021, a shopping mall conglomerate sued a retailer in one of their malls located in Palm Beach county for nonpayment of rent and associated fees. Here’s what to know about the lawsuit, if you should hire a lawyer, and who to call. 

The Lawsuit 

According to a complaint recently filed in the Palm Beach County Circuit Court, a jewelry business in Boca Raton’s Town Center Mall hasn’t made payments towards their commercial space rental since Summer of 2021. 

The jeweler now owes a substantial amount of back rent.  According to a default notice issued by Simon Properties, the business that operates Town Center Mall, the specific total originally owed by founders Oma and Isaac Levy is upwards of $152,223.

Per the lawsuit, on or around July 21, 2017, YVEL signed a contract with Simon Properties, agreeing to a monthly minimum rent payment of $7,532.63 for the commercial space. 

The contract specified that when the store earned more revenue, they would owe additional rent, as well as $2,416 per month for operational expenditures, $164 per month payment to a media fund, $164 per month commitment to a publicity fund, and property taxes. 

However, according to the lawsuit, YVEL has not satisfied any of these financial obligations since April 2020. According to the suit, YVEL owes Simon Properties a total sum of $161,673 to date. Simon Properties ordered the jewelry establishment to pay their back rent in full or vacate the property, however, the store has refused to do either. 

The suit states, “Plaintiff’s (Simon Properties) Notice of Default demanded that Defendant (YVEL) pay the full amount of the unpaid rent then owed, or deliver possession of the Premises back to Plaintiff. Defendant Tenant refused and/or otherwise failed to do either.”

Should You Hire a Florida Real Estate Litigation Attorney? 

If you’re a business involved in a real estate dispute, it’s generally in your best interests to consult with an experienced real estate litigation attorney to determine your next steps. Without the help of a lawyer, you stand to incur significant losses. 

Contact Feinstein Real Estate Litigation & Business Law Today

Don’t hesitate to get the legal help you need from an experienced, zealous real estate attorney. Call Feinstein Real Estate Litigation & Business Law today at 954-767-9662 (Fort Lauderdale), 561-981-6212 (Boca Raton,) or 305-728-5267 (Miami).

By : admin | October 26, 2021 | Real Estate Litigation