Ron Kurtz happily bought one of the high-rise Hallandale Beach condos back in 2004 for a sum of $520,000. Now, he is suing for the return of his $104,000 deposit. His reason is simple: he bought a condo with oceanfront views but would not be getting what he paid for. The building housing his condo will be directly behind another high-rise condominium unit, giving him a beautiful view…of the other building.
Kurtz is suing the developer, Duo Hallandale, and its title agent, former Hollywood Commissioner Keith Wasserstrom. The lawsuit claims that Wasserstrom illegally tampered with the cash deposit in an escrow account controlled by his law firm and his now dissolved Celebrity Title Co.
Wasserstrom is not a stranger to controversy, last year he was convicted on public corruption charges from a Hollywood sludge contract. The Broward State Attorney’s Office has been in the process of investigating the title company and developer for $166,000 in undisclosed fees that was paid to Wasserstrom.
According to the attorney for Duo Hallandale, Kurtz has no case. He makes reference to hundreds of other similar cases he is currently involved in, which involve buyers trying to find a loophole to get out of purchases made before the housing crisis. Kurtz argues that he would have moved into the condo if it had not been for the loss of the ocean view. Furthermore, experts claim that Kurtz should have received interest payments for his down payment, and other accounting information, but he has not.
Whichever way this lawsuit pans out, at least we can walk away with a lesson. Before purchasing an oceanfront condo, be sure to ask how permanent that ocean view is!
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