The Real Deal Miami

Receiver takes over Thomas Kramer’s Star Island homes

Bad-boy developer owes nearly $2.2M in property taxes, has European funds frozen

April 09, 2014 09:45AM

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Thomas Kramer

Thomas Kramer

The Star Island mansions owned by bad-boy German developer Thomas Kramer are now in the control of a court-appointed receiver.

Miami-Dade Circuit Judge Daryl E. Trawick signed an order designating Meland Russin & Budwick partner Mark Meland as the receiver of the 4 and 5 Star Island Drive homes on Tuesday, the Miami Herald reported. Meland now takes custody of the property and oversees any rent or other income collected. He also must make sure taxes are paid and necessary repairs are made to the mansions.

The litigation that resulted in the receivership order dates back 20 years. Kramer testified in December 2013 that he funded his high-flying lifestyle and maintenance of the Star Island properties through a series of wire payments. But his money at several England banks are frozen due to a Swiss judgment stemming from real estate disputes between Kramer and Siegfriend Otto, who died 17 years ago.

Otto’s daughters and heirs inherited the judgment. A Miami-Dade Circuit judge affirmed the judgment locally in 2007.

Kramer owes nearly $2.2 million in property taxes to Miami-Dade County. [Miami Herald]Eric Kalis

  • jake

    Thomas Kramer is NOT a bady boy he is a wimp. He brags all the time about his trips and taking pictures yet hes bankrupt. What a joke. Another developer living on loans.

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