The Real Deal: JMH Development must turn over remaining interest in 300 Collins: judge

The Real Deal features Kluger Kaplan’s recent win on behalf of PSB Collins LLC.  

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A judge has ordered Jason Halpern’s JMH Development to turn over its remaining interest in Three Hundred Collins to its silent partner, amid ongoing litigation.

The five-story, 19-unit boutique condo at 300 Collins Avenue in Miami Beach’s South of Fifth neighborhood was completed this summer, and has just one unsold unit remaining: Penthouse 2 priced at $5.3 million. JMH must turn over that unit and any cash in the bank to its partner PSB Collins LLC, led by Dhruv Piplani, according to an order signed by Miami-Dade Circuit Judge William Thomas.

Piplani’s attorney Marko Cerenko said Piplani’s entity is also entitled to the cash proceeds of the $1.6 million sale of unit 3-A, which was purchased just before the lawsuit went to trial last week. The value of the total owed to Piplani’s entity is estimated at $6 million to $7 million, said Cerenko, a partner at Miami-based Kluger, Kaplan, Silverman, Katzen & Levine…

Continue reading in The Real Deal. 

Court Won’t Lift Claim On $28M Miami Beach Property Deal

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A Florida appeals court refused Wednesday to remove a claim held by a condominium association on a group of highly desirable commercial units in Miami Beach that Walgreen Co. recently sold for $28 million, issuing what the challenger called a bold ruling that provides a roadmap for overturning the deal.

At the very least, the decision from Florida’s Third District Court of Appeal leaves a cloud hanging over the transaction, with the would-be buyer locked in litigation and effectively unable to move on opportunities to flip the property for a substantial profit.

“This is a huge victory. It’s a game-changer in the litigation, in my opinion,” said Alan J. Kluger of Kluger Kaplan Silverman Katzen & Levine, whose client, Daxan 26 (FL) LLC, says it holds a right to first refusal conferred upon it by the building’s condominium association.

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