The Real Deal Miami

Grand Condominium receiver denied

December 08, 2009 10:45AM

Judge Jerald Bagley has declined to appoint a receiver for a huge
downtown Miami mixed-use complex controlled by the Grand Condominium
Association in a lawsuit brought by Susan Cohn, a unit owner at the
Grand and a member of the association. Cohn claims Pierre Heafey, who
runs the 43-story, 1,210-unit complex at 1717 N. Bayshore Drive,
siphoned off association assets to help pay for his own, including
seven residential units valued at more than $2 million. Cohn’s
attorney, Eric Glazer, said he understands the judge’s ruling because
of the cost of appointing a receiver. Bagley did allow Cohn to alter
her complaint; she filed a suit seeking to recover $1.6 million in
valet parking fees charged to residential owners. [Miami Herald]