FLORIDA – Owners at South Beach’s Shelborne fight $30 million assessments, foreclosure

CCFJ.NET:  Owners at South Beach’s Shelborne fight $30 million assessments, foreclosure

Article Courtesy of The Florida Bulldog
By Francisco Alvarado   

Published August 12, 2016

For the past four years, about 40 investors and snowbirds who own 42 rooms in a landmark oceanfront art deco hotel have been locked in a pitched court battle with one of Miami Beach’s most politically connected families to keep their units.

An ongoing civil lawsuit in Miami-Dade Circuit Court alleges that Miami Beach developer Russell Galbut, along with relatives and business associates, broke Florida condo association laws by passing nearly $30 million in illegal assessments for renovations at what is now the Shelborne Wyndham Grand South Beach. That works out to roughly $107,142 per room.

The group, 10 of whom spoke with a reporter but asked that their names not be used, claim Galbut stacked the condo association’s board with flunkies and is trying to take control of the entire building by initiating foreclosure proceedings against them for refusing to pay what they believe are outrageous assessments. They also alleged that their rooms were demolished without their consent during the renovations, resulting in the City of Miami Beach revoking their certificates of occupancy until they fixed their units.

“They are using the old game of charging us exorbitant assessments to push us out,” said one New Yorker who purchased two rooms in the late 1990s as an investment. “There is a conspiracy to take our deeds for peanuts. Their end game is to own all the units.”  Read more:

Posted on August 13, 2016, in Uncategorized. Bookmark the permalink. Comments Off on FLORIDA – Owners at South Beach’s Shelborne fight $30 million assessments, foreclosure.

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