Two Roads Development has filed a lawsuit against the remaining owners at Biscayne 21, intensifying an ongoing legal dispute surrounding the bayfront condominium in Miami’s Edgewater neighborhood.
The developer began purchasing units in the building, constructed in 1964, in 2022 and paid about $150 million for most of them. After acquiring the majority stake, Two Roads launched sales for a new Edition-branded condominium project on the site.
Litigation between Two Roads and holdout unit owners started in 2023. Last year, a court determined that the condo association—controlled by Two Roads—had unlawfully changed its declaration to reduce the threshold required for terminating the condominium from unanimous consent to just 80 percent of owners. Termination is necessary before redevelopment can proceed.
In January this year, a court ordered Two Roads to make the building habitable again by restoring utilities such as air conditioning, water, and electricity.
Two Roads’ affiliate, TRD Biscayne, is now seeking equitable relief from the court. The company’s complaint asks for termination of the condo association and alleges that current problems with the building predate its involvement. According to the lawsuit: “The tower ‘stands vacant, uninhabitable, and condemned resulting from decades of lack of maintenance deferred by its former owners, including the individual unit owners.’”
Taylor Collins, managing partner at Two Roads, echoed this statement last week. The complaint estimates it would cost around $61 million to restore habitability.
“It’s not worth it to repair it,” Collins said. He added that if the court sides with Two Roads, there could be a partition sale of the property—meaning either Two Roads could buy out remaining owners or another developer might purchase it instead.
“I hope this comes to closure faster than that,” he said.
In related news about real estate litigation trends in South Florida, some are questioning whether lawsuits like those involving Aston Martin Residences’ condo association and developer Germán Coto will become more common.
In recent high-value transactions: Anthony Lomangino and his wife Lynda bought an oceanfront mansion at 260 North Ocean Boulevard in Palm Beach for $76.7 million from Harvey Kinzelberg and his wife Mary Ann; while Roizman Development and Related Companies sold a low-income apartment complex at 201 Racquet Club Road in Weston for $50.5 million to Spria Equity Partners and Foundation for Affordable Housing.
A waterfront mansion at 255 Ocean Boulevard in Golden Beach has been listed for $88.5 million by Douglas Elliman’s Dina Goldentayer. Developers Ricardo Halfen and architect Stephanie Halfen acquired this property for $10.7 million in 2021 before developing it into a seven-bedroom home with amenities such as a fitness studio and guest house.
Separately, Florida authorities recently seized nearly 2,200 vaping devices as part of efforts aimed at protecting minors from illegal e-cigarettes—a move aligning with state laws prohibiting anyone under age 21 from buying or possessing nicotine vapes.
