Appeals court overturns $4.2M verdict against Art Falcone and his brother

The case centered on the 2003 acquisition of a cemetery in Boca Raton from two widowed sisters

Miami /
Jan.January 27, 2018 09:00 AM

Art Falcone

An appeals court overturned a $4.2 million verdict against real estate developers Art  Falcone and Edward Falcone in connection with their 2003 acquisition of a cemetery.

The 4th District Court of Appeal in West Palm Beach rejected a jury’s finding that the Falcone brothers financially damaged two widowed sisters by convincing them to sell a family-owned cemetery in Boca Raton for less than it was worth.

Fifteen years ago, the Falcones paid $6.1 million to acquire the 18-acre cemetery, now called The Gardens of Boca Raton. It’s located in Boca Raton at 4103 North Military Trail.

Lawyers for the families of the original plaintiffs two widowed sisters who died before the trial  claimed the cemetery was worth $40 million.

At trial, the jury ordered the Falcones to pay $2 million in attorney fees and other expenses the widows incurred in selling the cemetery, plus $2.2 million in punitive damages.

But the appellate court found that widowed sisters Elishka and Kathleen Michael didn’t lose money on the cemetery sale, so the Falcone brothers have no obligation to pay their families $2 million of their expenses or $2.2 million in punitive damages.

William Cornwell, the attorney representing the Falcone brothers, said the jury found they took improper action to acquire the cemetery but concluded they didn’t damage the Michaels sisters. [Palm Beach Post] – Mike Seemuth


Related Articles

arrow_forward_ios
Hollywood Locations' Christopher Ursitti and 1400 Northwest 31st Avenue (Hollywood Locations, Google Maps)
Movie studio complex may rise on former incinerator site in Fort Lauderdale
Movie studio complex may rise on former incinerator site in Fort Lauderdale
A photo illustration of the letter unit owners of Champlain Towers South in Surfside sent to the court (Getty Images, iStock)
Surfside collapse unit owners ask court to up their $83M payout
Surfside collapse unit owners ask court to up their $83M payout
McDowell wants to build 201 apartments near Homestead, puts land under contract
McDowell wants to build 201 apartments near Homestead, puts land under contract
McDowell wants to build 201 apartments near Homestead, puts land under contract
From left: Art Falcone, principal, Falcone Group; Michael Kaufman, principal, Kaufman Lynn (Falcone Group, Kaufman Lynn Construction)
Falcone Group, Kaufman Lynn win bid to develop $149M mixed-use project in Oakland Park
Falcone Group, Kaufman Lynn win bid to develop $149M mixed-use project in Oakland Park
Jackie Soffer with 2750 Northeast 199th Street (Google Maps, Turnberry.com)
Jackie Soffer’s Turnberry proposes office/retail project near Aventura Mall
Jackie Soffer’s Turnberry proposes office/retail project near Aventura Mall
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
Art Falcone wins approval for 285-unit multifamily project in Pompano Beach
Art Falcone wins approval for 285-unit multifamily project in Pompano Beach
Art Falcone wins approval for 285-unit multifamily project in Pompano Beach
New York, Miami, Chicago, Los Angeles, San Francisco and Chicago (iStock)
As rent explodes nationally, Miami tops the charts
As rent explodes nationally, Miami tops the charts
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...