In the glittering world of high-end south Florida real estate, One Sotheby’s International Realty is known as one of the biggest players in the market. This month, the firm is handling the rental of NBA superstar Kevin Durant’s penthouse in Miami. Last year, it announced plans to break ground on a 31,000-square foot office building in Coral Gables, one of Florida’s poshest ZIP codes, according to news reports. But the company, affiliated with the famed auction house in London, recently was hit with claims that it had allowed an allegedly unscrupulous agent to pressure Miami Beach condominium owners into selling before they were ready, at a below-market price, then pocketing almost $4 million from the sale. And now, a federal appeals court decided this week, General Star National Insurance Co. cannot escape its duty to defend the realty firm in a civil lawsuit brought by the condo owners, despite exclusions built into Sotheby’s errors and omissions liability policy.
Court Rules in Favor of One Sotheby’s in Condo Owner Lawsuit, US
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