The Real Deal Miami

After Hollo threatens suit, Venezuela pays Miami rent

April 30, 2012 04:30PM

Tibor Hollo and 1101 Brickell Avenue

The Venezuelan Consulate has resumed paying its rent at 1101 Brickell Avenue after developer Tibor Hollo threatened suit, Miami Today reported. The consulate did not pay its rent in January or February of this year after President Hugo Chavez said he was closing the office following the U.S. government’s expulsion of Miami Consul General Livia Acosta Noguero, who was under investigation over allegations of involvement in a potential cyber attack.

But just one year earlier, the consulate had signed a 10-year lease for 7,940 square feet in Hollo’s office property. Its rent was in the upper $20s per foot, according to Miami Today.

Hollo had filed for eviction and threatened to sue over the lost funds, but the Venezuelan government eventually relented.

“They are paid up-to-date and they said they are going to honor the lease,” Hollo said. “They said they were going to send the funds and indeed they did.” [Miami Today]