Seller of $26M Venetian Islands manse sues over broken sale
11,500 sf home was under contract for $26M, which includes $3M for furnishings and equipment
October 26, 2016 05:20PMBy Katherine Kallergis
212 West Dilido Drive
The seller of a new, multimillion-dollar mansion on Di Lido Island in Miami Beach is suing the buyer over the 10 percent deposit for the now broken $26 million sale.
Dilido 212 LLC, an entity controlled by Ahmad Lee Khamsi, filed a lawsuit in Miami-Dade County Circuit Court against Benjamin Guzman for allegedly failing to pay the deposit on the modern spec home at 212 West Dilido Drive, alleging breach of contract.
The 11,500-square-foot house hit the market in December 2015 for nearly $36 million, then reduced to about $33 million in April, and eventually taken off the market. Realtor.com and other listings websites show the property, with seven bedrooms, more than 100 feet of bay frontage and high-end finishes, is no longer on the market. Julian Johnston of Calibre International Realty was the listing agent.
Johnston and Khamsi could not be reached for comment.
According to the suit, Khamsi, the president of a Venezuelan cable company, entered into an agreement on June 26 with Guzman to sell the property, which he developed after buying the lot in 2011 for less than $1 million. The contract, attached to the lawsuit, shows the house was going to be sold fully furnished sans artwork and Sonos System. The purchase price breaks down to $23 million for the property and $3 million for the media room equipment, all light fixtures, appliances, furnishings and furniture.
The contract stated that Guzman was required to pay the 10 percent, or $2.6 million, and that the seller has the right to recover the deposit from the buyer “if buyer fails, neglects or refuses to perform buyer’s obligation under the contract.” Because the buyer was moving his family, Guzman and Khamsi agreed to expedite the closing to July 8, but the buyer failed to pay the deposit and failed to pay the purchase price.
The following day, the Khamsi’s attorney notified the buyer with written notice of the default and with his intent to recover the deposit. The two parties also failed to arrange mediation, per Khamsi’s request, the lawsuit alleges.
Khamsi, through the ownership LLC, is seeking the full $2.6 million deposit as well as payment for his legal fees.
Source: The Real Deal