In early March, U.S. President Joe Biden gave a State of the Union address that condemned Russian oligarchs who owned property in America. Many of these properties are located in South Florida, on the coast, and in Florida’s surrounding waters. Russian oligarchs have long sought to purchase and own real estate located on the balmy shores of Palm Beach, and the President’s warning was directed entirely at them. 

“Tonight I say to the Russian oligarchs and corrupt leaders who have bilked billions of dollars off this violent regime: no more. We are joining with our European allies to find and seize your yachts, your luxury apartments, your private jets. We are coming for your ill-begotten gains,” he announced. 

Russian owners of Palm Beach real estate should be highly concerned, however, properties might not be taken immediately or possibly even at all before sanctions are lifted.

Asset Seizure Might Not Be So Easy 

Many of the Florida properties owned by Russian oligarchs are technically owned by American shell companies, which provide a thick layer of protection against seizure. Freezing assets, like bank accounts, and preventing wire transfers is much easier. That said, property owners have reason to be concerned. 

Get Help from Florida’s Business Law Firm Now 

Real estate matters, particularly those that are of extremely high value, are complex and difficult. They require the expertise of a seasoned attorney who is adept at both settlement negotiations and in-court litigation. It’s entirely possible that non-Russian property owners may get caught in the crossfire and need to take legal action to protect their investments. At Feinstein Business Law & Real Estate Litigation, we can help. 

Learn more about business law and real estate litigation or book an appointment to see one of our experienced attorneys. Call now by dialing 954-767-9662 (Fort Lauderdale), 561-981-6212 (Boca Raton), or 305-728-5267 (Miami). 

Many real estate investors from all over the globe purchase real estate in sunny South Florida, helping to keep its economy bustling. These investors include Russian oligarchs, the subject of many sanctions the U.S. has imposed as a result of Russia’s invasion of the Ukraine and subsequent war. The sanctions are intended to push Russia towards pulling out of the Ukraine without the U.S. becoming involved in the Russia-Ukraine war. 

Here’s what to know about how sanctions may affect both property owners and businesses in South Florida as well as Russian investors who own Florida real estate, and how to get legal assistance from an experienced real estate litigation lawyer. 

How Sanctions May Impact South Florida Property Owners & Businesses  

Real estate experts in the area suggest that both individual property owners and businesses should prepare for potential issues with real estate purchases and sales. It may be challenging or in some cases even impossible to transfer money between banks to complete a purchase depending on where your bank and funds are located. Sellers may notice fewer offers on their for-sale properties as Russian investors look elsewhere for property to purchase. 

How Sanctions May Impact Russian Investors in Florida Properties 

Russian investors are arguably the most affected by these sanctions, which will severely limit Russian transactions within the United States. Assets, including real estate, of Russian investors located in Florida will be blocked as a result of the sanctions, preventing investors from obtaining access. Russian investors will not be able to buy and sell property in Florida, or anywhere else in the U.S. until the sanctions are lifted. 

Reach Out for Legal Help Today  

These sanctions, while an important strategic move on the part of the U.S., deal a heavy blow to the real estate market. Some properties, including entire condominiums on the beach, could end up being the legal property of the United States government. This is a worst-case scenario for property owners and it’s important to consult with an attorney to better understand how the sanctions may impact you or your business, specifically. 

Protect your real estate with the help of an experienced real estate litigation lawyer. Feinstein Real Estate Litigation & Business Law provides experienced, comprehensive legal representation for owners, investors, sellers, and buyers in Florida. Call 954-767-9662 (Fort Lauderdale), 561-981-6212 (Boca Raton), or 305-728-5267 (Miami).  

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).

Recently, Florida Judge Michael Hanzman of the Miami-Dade Circuit Court rejected a legal ploy designed to prevent Heinrich Von Hanau and his company, Fisher Island Holdings, from erecting an additional luxury condo on Fisher Island, along with 12 residential homes.

The Lawsuit 

A lawsuit filed last year by area homeowners George Perlman, Jeff Horowitz, and Thomas Lauria against Fisher Island Holdings, the Fisher Island Community Association, and Fisher Island Club attempted to void a settlement agreement reached in previous lawsuits involving Heinrich Von Hanau.

In this lawsuit, the three plaintiffs alleged that construction of the proposed condo and associated residences would remove access to a third ferry landing typically used for emergencies on Fisher Island, since the area is only accessible by helicopter, private boat, or ferry. 

The Verdict 

However, the August 2021 hearing ended well for Hanau, with Judge Hanzman ruling in his favor. The judge said in his order, “Fisher Island has been embroiled in seemingly endless litigation. It damages property values, and it damages the perception of the community and the people who live in it. It is time for all this litigation to meet its end.” 

This decision allows Fisher Island Holdings to complete construction on a 10-story, 57-unit condominium at 6 Fisher Island Drive. Once the property has been developed, no additional developments can be constructed on the island. 

The settlement requires Fisher Island Holdings to make a $2.5 million payment in cash. Although the attorneys for the plaintiffs, Alan and Lauria Kluger, declined to make a comment regarding the outcome of the case. 

The lawyer representing the Fisher Island Community Association, Sashi Bach, noted that the verdict “was a result of the committee working around the clock to get this deal done in the best possible way for Fisher Island.” Bach continued, “It is a phenomenal deal to get things on the right path forward.”

Getting Experienced Legal Assistance for South Florida Real Estate Litigation 

Are you involved in a real estate or construction litigation matter in South Florida? It’s important that you secure adequate legal representation as soon as possible to protect your best interests from the start of the case. 

Contact Feinstein Real Estate Litigation & Business Law today to learn more about how we can help you pursue a favorable verdict. Call now at 954-767-9662 (Fort Lauderdale), 561-981-6212 (Boca Raton,) or 305-728-5267 (Miami). Our team is available now to provide you with immediate assistance.

According to a newly filed legal complaint, the Opera Tower Condominium Association, owners of Miami’s esteemed Opera Tower, has allowed unlawful short-term rentals for extended periods, causing increasing facility expenses and plummeting property values.

A Class Action Lawsuit 

On June 21, 2021 the lawsuit was filed in a Federal district court in Miami and seeks class action status. The Opera Tower is no stranger to lawsuits, and this move is simply the latest legal battle over unapproved 30-day or shorter leases at the 635-unit luxe skyscraper. Opera Tower sits in the heart of Miami’s Arts and Entertainment District at 1750 North Bayshore Drive. 

The plaintiff, Joseph Dispoto, bought a one-bedroom apartment in the Opera Tower in 2007. According to the lawsuit, up to 200 unit owners may be affected and the claim could be filed as a class action suit with damages exceeding $5 million. Defendants listed in the lawsuit are the Opera Tower Condominium Association, Opera Tower LLC, board directors Joseph Arthur, Dean Warhaft, and Michael Smith. 

The Allegations 

In the lawsuit, the Opera Tower Condominium Association and its board of directors are accused of breaking Miami zoning ordinance 21, which bans short-term leases in multifamily structures like the Opera Tower. According to the lawsuit, over 200 units in the complex are actively advertised and offered as short-term apartment rentals.

Opera Tower LLC is also accused of using a firm called Opera Suites and Marina to lease condominiums for 30 days or less through February 2020. The lawsuit claims that for a period of time, Opera Suites and Marina had a separate check-in counter at Opera Tower and extensively promoted its short-term rentals on numerous hotel reservation websites.

The Opera Tower Condominium Association admitted in a letter to unit owners that these short-term rentals had lowered the value of their units and the overall property. The complaint states that Opera Tower got a cease-and-desist letter from the city of Miami approximately a month following the letter being mailed out, ordering the Tower to discontinue all short-term rentals immediately. 

No Comment From the Opera Towers 

Dean Warhaft, Florida East Coast’s principal development manager and President of the Opera Tower Condominium Association, was contacted for a statement but declined to comment. At the time of writing, attorneys for Joseph Dispoto, Brian Warnick, and Janet Varnell, as well as the attorney for the Opera Tower Condominium Association, Jose Baloyra, did not reply to phone calls and emails seeking a statement. 

Get Help With Miami Real Estate Litigation Today 

If you are the owner of a unit in the Opera Tower complex, or want more information about how to protect yourself from property devaluation, contact Feinstein Real Estate Litigation & Business Law by calling 954-767-9662 (Fort Lauderdale), 561-981-6212 (Boca Raton), or 305-728-5267 (Miami).

A real estate purchaser who said they were deceived about the condition and quality of a commercial real estate property now faces nearly a hundred thousand dollars in legal costs after a business real estate transaction went south. 

In the judgment, Florida Holding 4800 LLC was ordered to pay $84,200 in legal fees to the seller of the commercial property in the real estate dispute, Lauderhill Mall Investment. Although Florida Holding 4800 LLC initially brought forth legal action against Lauderhill Mall Investment for being misled about the property, the case has ended with the buyer paying more than they would have if they’d never brought forward a claim. 

The Florida Fourth District Court of Appeal delivered more disappointing news for Florida Holding 4800 LLC, ruling that Lauderhill Mall Investment has the right to seek the reimbursement of appellate fees. This means Lauderhill Mall Investment can sue again for the legal costs they incurred during the process of appealing the case. 

When Do Courts Award Attorney’s Fees? 

Attorneys’ fees will sometimes be awarded by the courts in certain cases. Although this does not happen too often, it can occur in situations where the court believes one of the parties knowingly acted in bad faith. 

This bad faith conduct can take the form of actions taken during the course of litigation or behavior that led to the filing of the lawsuit. In these cases, the court can order one party to pay the legal costs of the other.

Involved In Palm Beach Real Estate Litigation? Get Experienced Legal Help 

Our South Florida real estate litigation firm offers outstanding advocacy for our clients in all forms of real estate mediation, arbitration, and litigation. Our devoted team is here to help you with a wide variety of real estate related legal matters, from purchasing and selling to more complex issues like the one above. 

Since real estate litigation in Palm Beach can be particularly complex, you need a team of seasoned lawyers who not only understand legal procedures related to real estate disputes, but also who are familiar with county, state, and federal courts. It’s also important to have a team of legal advocates who have consistently handled complex real estate matters like yours on a daily basis.

Contact Feinstein Real Estate Litigation & Business Law today to learn more about how you can benefit from the expertise of a veteran Palm Beach real estate litigation lawyer, or to schedule your consultation. Call now at 954-767-9662 (Fort Lauderdale), 561-981-6212 (Boca Raton), or 305-728-5267 (Miami).

In 2017, the Tides Hotel in South Beach, Florida began renovations on the historic 45-room hotel and surrounding property at 1220 Ocean Drive and multiple addresses on Collins Ave. 

The renovations sought to expand the hotel to 145 rooms by connecting it to the newer buildings on Collins Ave. The building plans for the 1936 art deco-style hotel also included a new outdoor swimming pool. 

Construction Delays & Financing 

Hurricane Irma struck later in 2017, causing the property to incur significant damage and delaying the construction process. The loan for the project, which was initially taken out for $45M in 2014, was extended multiple times to accommodate the borrowers. 

Safe Harbor Equity is the loan’s servicer and the plaintiff of the foreclosure lawsuit; suggesting that the move was intended to protect their investment after having taken out a $34M loan themselves to secure the note for the Tides Hotel renovation. 

A Safe Harbor Equity spokesperson noted that the foreclosure suit is not intended to isolate the borrowers. 

“It is always our preference to restructure the debt and work with the borrower to satisfy their debt and keep them operational,” they said to a reporter for the South Florida Business Journal. Depending on the response from Tides Hotel management, the lawsuit may or may not proceed in court. 

Pursuing or Defending Against Foreclosure 

Whether you’re a purchaser or a bank, it’s important to have legal representation during the foreclosure process. Foreclosure is never ideal and can be costly for both the property buyer and the lender. 

Various circumstances can make your case easier or more difficult, making it critical that you are able to understand your legal rights and available options so you can make decisions that are in your own best interests. Our ultimate goal is to help you protect your property and financial assets regardless of the situation at hand. 

Contact Feinstein Real Estate Litigation and Business Law Today 

At Feinstein Real Estate Litigation and Business Law, we understand the numerous challenges presented by foreclosure, particularly when the property is high-value. We can provide you with experienced legal representation during settlement negotiations or litigation in a Palm Beach courthouse. Let us help you pursue or defend your assets against foreclosure. 

Contact us today for a consultation to discuss the details of your case with an experienced real estate litigation lawyer by calling 954-767-9662 (Fort Lauderdale), 561-981-6212 (Boca Raton), or 305-728-5267 (Miami).

Real estate litigation is an instrument utilized by real estate brokers and agents, property sellers and purchasers, and landlords and tenants to protect legal rights and rectify damages. Here are the most common reasons litigation is pursued in the real estate realm and what you can do to safeguard your best interests in any real estate dispute.

1. Failure to Disclose Property Defects 

Property sellers in Florida are legally required to disclose known and non-evident property defects that may affect its value. If a purchaser later learns of a previously undisclosed property defect after closing, they may bring forward legal action against the seller of the property for failure to disclose. 

These cases can be difficult to win and require experienced legal representation because you must have evidence that the property seller knew about and purposefully concealed a property defect or that the defect is significant enough that the seller should have reasonably known about it.

2. Breach of Duty 

Real estate agents and other professionals typically have a duty to their clients to act in the client’s best interests. However, unscrupulous agents may act in their own best interests in order to secure a sale. 

For example, a real estate agent may minimize significant defects that reduce the value of a property to keep the sale price from being negotiated down or the sale from falling through entirely. If the client has experienced losses or damages from the agent’s actions, a lawsuit may be warranted.

3. Breach of Contract 

A breach of contract is arguably the most common reason for real estate litigation. Contracts are crucial in the real estate realm and outline what each party involved in the transaction is responsible for and obligated to do. Failure to abide by a written and agreed upon contract can be costly for everyone involved. 

To successfully win a breach of contract case, you must be able to show evidence that you fulfilled your own contractual obligations as well as evidence that the party you are suing did not. This is particularly true when seeking damages in high net worth real estate lawsuits. 

When to Contact a Florida Real Estate Litigation Attorney 

If you’re a party to a real estate dispute, it’s important that you have adequate legal advocacy to protect your rights and best interests. Our real estate litigation team can help. Call now for your consultation at 954-767-9662 (Fort Lauderdale), 561-760-9929 (Boca Raton), or 305-842-2730 (Miami). 

Many professionals need licenses before they can work in their chosen field. As a real estate agent, you had to obtain a license before you could start helping individuals buy or sell property. You may love your job, but you also know that, without your license, you would not be able to continue in this industry.

Because you want to continue in your chosen profession, you do not want to put your license at risk. Unfortunately, someone who believes that you did not act professionally could file a complaint and leave you facing administrative proceedings in front of the Florida Department of Business and Professional Regulation.

Why would someone complain?

Often, complaints against real estate agents result when a client loses trust in his or her agent. The client may feel that you did not act appropriately or did not handle a transaction well, and as a result, you have landed in a difficult predicament. If any of the following examples apply to your ordeal, you may understandably worry about your real estate license:

• Misappropriating funds: Real estate agents handle clients’ money in various ways, such as keeping earnest money until closing, and if a client suspects that an agent took the funds for personal use or otherwise misused it, a serious complaint could result.
• Not telling the truth: Some real estate agents may bend the truth or try to gloss over information in certain circumstances in efforts to make a deal, but lying about any information could result in serious claims against you and the potential for an administrative hearing.
• Getting arrested: If authorities take you into custody, even for a crime unrelated to your real estate business, and you face a conviction, the state could suspend or revoke your real estate license.

If someone files a complaint regarding your actions, it could catch you completely by surprise. After all, you do your best to maintain integrity in your business practices and do not want to put your license in jeopardy. Unfortunately, panic may set in if you end up facing an administrative hearing. As a result, you may want to contact an attorney who can help you understand your available options for handling this type of ordeal. When your livelihood is on the line, you do not want to take any chances.

Buying a home is an exciting process, but it is also a process that can come with certain challenges and risks. This is why many Florida homebuyers find it beneficial to work with an experienced legal ally from the very beginning. This is a significant legal and financial step, and it’s worthwhile to be careful and cautious as you move forward.

If you want to buy a home, you know you will have to sign a purchase contract. By doing this, you are agreeing to the terms in the contract. Before you sign, it’s crucial to ensure you are not inadvertently exposing yourself to financial loss or legal complications down the road. From contract drafting and review to advocating for your interests in an unexpected situation, you will find it helpful to have a legal ally on your side at every step.

What’s going to happen? 

If this is your first home purchase, you may not know what to expect from the process. After the buyer and the seller agree to the asking price, you will then sign a contract. The following things will then happen before you can move into your new home:

• You will need to finalize your financing.
• There will be a title search, as is a requirement for most lenders.
• Official ownership will transfer to you at the closing.

This may seem like a relatively straightforward process, but with all financial and legal transactions, there is the potential for complications. The inspection could reveal serious issues with the home, or you may discover a clear reason why you need to back out of the contract.

The terms of your contract

The terms of your purchase contract matter. It is in your interests to avoid unclear or unreasonable terms. The standard forms often used by realtors may not be enough to fully protect you, and a review of a contract could prove that you need to negotiate new terms or draft a contract suited to your individual needs.

If you are about to buy a home, make sure you are not also buying into potential problems down the road. There are many reasons why it can be beneficial for you to work with an experienced attorney, and you can discover these during an assessment of your case. Before you move forward, make sure you are doing everything possible to protect your interests.