Rotem Rosen scores legal win against Alex Sapir

Judge says Sapir must set aside $55M as fight over father’s estate proceeds

New York /
Jul.July 21, 2021 01:30 PM
From left: Rotem Rosen, Alex Sapir and Tamir Sapir (Getty)

From left: Rotem Rosen, Alex Sapir and Tamir Sapir (Getty)

UPDATED July 22, 2021, 8:36 a.m.: Rotem Rosen just scored a legal victory in an ongoing lawsuit with Alex Sapir, his former brother-in-law.

Rosen asserts he is owed $102.9 million from the estate of Sapir Organization founder Tamir Sapir, who died in 2014. Last week, a judge ruled that Alex Sapir, a son of Tamir, must put $55.5 million in escrow while the dispute is being decided, according to the Commercial Observer.

During the case, Alex Sapir and Rotem Rosen agreed to set aside the $55.5 million to protect what Rosen claims is his stake in a company they co-founded. But Sapir reportedly failed to put the money aside and then attempted to nullify the agreement, leading to the judge’s ruling in Rosen’s favor.

“While we respectfully disagree with the court’s interpretation of the agreement, this decision has no impact whatsoever on the viability of Rosen’s meritless claim against the estate,” said Terrence Oved, an attorney for Alex Sapir.

Rosen had sued in 2019 on behalf of ASRR Capital, which he founded with Alex Sapir. Rosen ultimately bought Sapir out of the 50-50 ownership for $70 million in 2017. The company owns property in Miami and New York City.

Over the course of this case, both men have filed additional lawsuits against one another. In July 2020, Sapir sued Rosen and his brother for $100 million, alleging they used positions at the Sapir Organization to unfairly enrich themselves and steal proprietary documents. Rosen filed a lawsuit of his own, alleging Sapir was in default over the ASRR buyout.

Sapir is president and CEO of the Sapir Organization.

[CO] — Holden Walter-Warner

This story has been updated with a statement from Alex Sapir’s attorney.






    Related Articles

    arrow_forward_ios
    Robert Finvarb and Abraham “Abie” Hidary with the site at 2534 North Miami Avenue (Koniver Stern Group)
    Hidrock Properties, Robert Finvarb pay $13M for Wynwood site
    Hidrock Properties, Robert Finvarb pay $13M for Wynwood site
    The current Miami Beach North Shore library with Mayor Dan Gelber (Google Maps, Gelber)
    Miami Beach seeks buyers for city-owned development sites
    Miami Beach seeks buyers for city-owned development sites
    Developer David Edelstein and Robert Levine of RAL Development with the project (Getty, RAL)
    David Edelstein, partner close on missing piece of Wynwood assemblage for office towers
    David Edelstein, partner close on missing piece of Wynwood assemblage for office towers
    David Grutman and Pharrell’s Goodtime Hotel had received nearly 30 noise violations (Carma Connected, Getty)
    Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
    Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
    Related Companies Chairman Stephen Ross with One Flagler (Related, Getty)
    Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
    Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
    Grover Corlew principal Mark Corlew with Bank of America Tower in Boca Raton (Grover Corlew)
    Grover Corlew buys Bank of America Tower in Boca Raton for $45M
    Grover Corlew buys Bank of America Tower in Boca Raton for $45M
    The partially collapsed 12-story Champlain Towers South condo building (Getty)
    Inside the tug-of-war over the Surfside condo site’s future
    Inside the tug-of-war over the Surfside condo site’s future
    Moishe Mana and the downtown parking lot he purchased (Google Maps, Getty)
    Moishe Mana expands downtown Miami assemblage with $12M purchase
    Moishe Mana expands downtown Miami assemblage with $12M purchase
    arrow_forward_ios

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

    Loading...