Deposit Recovery Cases Continue to Linger for the Related Group and other Prominent Developers in South Florida

downtown-miami-9-07.jpgOur firm has a proven track record in the area of deposit recovery. While we are currently aggressively representing the interests of many purchasers at the St. Regis Bal Harbour, ICON Brickll, the IVY, and other prominent South Florida projects, recover their pre-construction deposits, we previously spearheaded many of the defenses that the developers are currently using against purchasers.

The Related Group, developer of ICON Brickell and led by Jorge Perez, spearheaded the condo construction boom in Miami. Although the real estate market tanked almost 4 years, the Related Group is still dealing with many lawsuits stemming from the real estate market crash.

In Downtown Miami alone, the company constructed 5,500 condo units. By early 2008, the company faced hundreds of lawsuits filed by buyers, employees, vendors and subcontractors.

The Related Group has settled a great amount of the lawsuits filed by buyers trying to cancel contracts. Attorneys who represented these buyers, including our firm, have stated settlements were not easy to come by because the company slowly responded to lawsuits.

The ICON Brickell, a condo development built by the Related Group, has presented many legal problems. Apart from lawsuits filed by buyers, half of the condos in the 1,800 unit development were given back to the bank who financed the project.

Our firm has considerable experience in deposit recovery cases. The very fact that we previously represented developers places us in a unique position to anticipate and understand our opponents’ next move. In fact, many of the tactics developers will use to defend a case were established by our firm.

If you find yourself fighting with a developer to recover your deposit, call our firm as we may be able to assist you. The Developers have attorneys fighting for their interests, and so should you.