Both Sides Claim Victory in Wynwood Real Estate Dispute
After years of litigation, a patient Miami developer acquired a prime parcel in Wynwood for about $400,000 below the purchase price in his lease.
April 20, 2017 at 04:00 AM
7 minute read
Both sides are claiming victory in a multimillion-dollar fight between a landlord and Miami developer, who paid rent for years on a Wynwood property he was unable to occupy.
Tenant Slims Universal Holding Co. LLC pushed to exercise a purchase option in the lease and eventually acquired the building for $1.75 million. The acquisition was a coup, according to its attorneys, who said the lease included a substantially higher $2.176 million purchase price for the well-located commercial property in one of the city's most trendy neighborhoods.
But an attorney for landlord Rosenthal LLC claimed it beat back Slims' $2 million claim, outmaneuvering the tenant looking to pay nothing for the valuable piece of real estate.
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