As condo associations and developers look to take advantage of older buildings to capitalize on South Florida’s increased property values, condo termination litigation is bound to increase. But that can also create problems for condo owners as some may try to illegally profit off of the trend.
That’s an allegation at the heart of a lawsuit against a Miami architect heir and Water’s Edge Condominium Association president and board chair. Joseph Swedroe of Bal Harbour, who owns seven of the 11 units at Water’s Edge condominium, is accused of unlawfully self-dealing to gain control of the majority of the units.
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