Developer Zipes sues The Kolter Group


Fort Lauderdale highrise developer Richard Zipes is suing The Kolter Group.

In January 2005, as his plans fizzled for a $100 million condominium called the Metropolitan, Fort Lauderdale developer Richard Zipes sold 4 acres at the corner of U.S. 41 and Gulf Stream Avenue to The Kolter Group, which is building the controversial Vue Sarasota Bay condo on the site.

Now Zipes’ development company has filed a lawsuit against The Kolter Group over a deal on Las Olas Boulevard in downtown Fort Lauderdale.

The 0.86-acre site is next door to Zipes’ crown development jewel, the Las Olas River House condo. In the suit, Zipes alleges that he put together a development project – a 46-story condo -- that attracted Kolter, and arranged the $17.25 million sale of the land to the company. The building would have 238 hotel rooms and 120 condo units, and would be the tallest building in Fort Lauderdale. The Broward County Commission will consider the building in its meeting tonight.

Then, as the sale closing approached, Zipes says, Kolter excluded him from the deal.

Zipes, in his mid-70s, wants $15 million as compensation for his services.

The plaintiff in the suit, which is dated April 28, is Zipes’ Omni Realty Development Corp.

Complaint Filed

Harold Bubil

Recipient of the 2015 Bob Graham Architectural Awareness Award from the American Institute of Architects/Florida-Caribbean, Harold Bubil is real estate editor of the Herald-Tribune Media Group. Born in Newport, R.I., his family moved to Sarasota in 1958. Harold graduated from Sarasota High School in 1970 and the University of Florida in 1974 with a degree in journalism. For the Herald-Tribune, he writes and edits stories about residential real estate, architecture, green building and local development history. He also is a photographer and public speaker. Contact him via email, or at (941) 361-4805.
Last modified: May 10, 2016
All rights reserved. This copyrighted material may not be published without permissions. Links are encouraged.