Summers are usually slower than the rest of the year. Our sources go on vacation. Deal activity slows down. Properties are taken off the market.
This summer, though, is clearly an exception. Two stories, in particular, have shaken the world of luxury brokerage and development.
We’ve reported on rape allegations against top Miami broker Oren Alexander, his twin Alon, and his brother Tal, also a real estate broker.
The story has unfolded dramatically, with four lawsuits filed against one or more of the brothers and reports in the Wall Street Journal and New York Times detailing similar allegations of rape, sexual assault and/or drugging dating back to when the brothers were in high school in Miami.
The claims, which the Alexanders deny, are disturbingly similar. The comments section on our Instagram posts have become a haven for women who allege similar attacks. You can read about the latest lawsuit, filed on Friday, here.
And the fallout has been big. Official, the company they co-founded with former Douglas Elliman executives Nicole Oge, Richard Jordan and Andrew Wachtfogel (the Alexanders built their career at Elliman before leaving in 2022) has officially lost its two biggest new condo developments: Michael Shvo’s Raleigh project in Miami Beach and Michael Stern’s Dolce & Gabbana project in Miami. Some agents have left Official, and its future is uncertain.
The FBI began speaking with alleged victims and survivors, though it’s unclear whether the law enforcement agency will charge the brothers with crimes.
As all of this was unfolding in attorneys’ offices and on reporters’ laptops, the FBI and U.S. Attorney’s office were also probing murder-for-hire attempts allegedly made by developer Sergio Pino, a prominent South Florida homebuilder, against his estranged wife, Tatiana.
Pino ended his life earlier this month as the FBI planned to arrest him for orchestrating not one, but two failed attempts to have Tantiana killed. He allegedly hired two groups of hitmen, after trying and failing to poison Tatiana years before she filed for divorce, according to the Feds. I unfortunately couldn’t make that press conference, but my colleague Francisco Alvarado captured the troubling allegations.
For the people Pino left behind, the fight will now target his estate and the future of the Pinos’ Century Homebuilders, it seems.
What we’re thinking about: The Alexander brothers are no longer licensed with Official, and have been removed from the company’s ownership. But are they still operating? Send me a note at kk@therealdeal.com.
CLOSING TIME
Residential: A trust managed by local attorney Jay Sakalo sold the house at 360 East Alexander Palm Road in Boca Raton to another trust managed by Coral Springs-based attorney Larry Rothenberg. The property, a spec mansion in Royal Palm Yacht & Country Club, sold for $28.5 million.
Commercial refinancing: Vlad Doronin’s OKO Group and Cain International scored a $565 million loan from an Elliott Investment Management-backed lender for the nearly completed office tower at 830 Brickell Plaza in Miami.
NEW TO THE MARKET
Anthony DeGradi and his wife Kristen listed their waterfront mansion at 733 Middle River Drive in Fort Lauderdale for $47.9 million. The 11,800-square-foot, six-bedroom and nine-bathroom home has more than 100 feet of deep water frontage for super yachts, a gym, salt sauna, drone landing pad, miniature golf course and more. It’s listed with Rick Teed and Daniel Tzinker of The Agency Miami. DeGradi, a medical center mogul, and his wife paid $29.5 million for the home last year.
A thing we’ve learned
Florida does not require landlords to provide air conditioning to tenants, even though most are required to provide heat during the winter, according to the Tampa Bay Times.
Elsewhere in Florida
- Membership fees at Donald Trump’s Mar-a-Lago Club in Palm Beach are going up to $1 million, from $700,000, beginning in October, Miami New Times reports. Following the 2016 election, Trump raised the membership fee to $200,000.
- U.S. District Judge Mark Walker issued a final order that overturns Gov. Ron DeSantis’ “Stop WOKE Act,” according to ABC News. The law was aimed at limiting diversity and race-based discussions in private workspaces.
- Brightline experienced a big drop in short-distance commuters in June after it eliminated nearly all of its monthly commuter passes, making it more expensive to take the train. Still, revenue increased as it transported more long-haul riders to Orlando, the South Florida Business Journal reports.