Inside the Meruelo family schism
Developer David Martin is at the center of a rupture within the Meruelo family over control of the former Deauville Beach Resort, an oceanfront property he and the Meruelos’ are expected to co-develop into a luxury condo and hotel. The lawsuit, filed in April, accuses Martin and Richard Meruelo of orchestrating a scheme to manipulate and trick family matriarch Belinda Meruelo into signing away a 25 percent stake in the property for just $12.5 million, when the entire 3.8-acre site was worth at least $500 million. The 110-page complaint was filed by the Meruelos’ Deauville Associates, but even that is […]This article originally appeared on The Real Deal. Click here to read the full story.
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Stevan Stanisic
Real Estate Advisor | License ID: SL3518131
Real Estate Advisor License ID: SL3518131