Judge Orders Codina Companions Affiliate Pay back Grycon M In Damages

Judge Orders Codina Companions Affiliate Pay back Grycon $8M In Damages

Codina Partners’ Armando Codina and Ana-Marie Codina Barlick with 5350 Park apartment project (Codina Partners, Google Maps, Getty)

Codina Associates now has a $7.8 million invoice for allegedly refusing to shell out a standard contractor that crafted a Downtown Doral rental venture.

Very last 7 days, Miami-Dade Circuit Courtroom Decide William Thomas entered a remaining judgment in favor of Grycon, a Fort Lauderdale-based mostly design business that won a non-jury trial in July towards Codina affiliate 5350 Park for wrongful termination. In May possibly 2020, Codina fired Grycon on the exact day the developer acquired a final certification of occupancy for the 19-story, 251-device tower also termed 5350 Park at 5350 Northwest 84th Avenue, courtroom information display.

Codina is led by Govt Chairman Armando Codina and the firm’s CEO Ana-Marie Codina Barlick.

Thomas requested Codina’s affiliate to spend $6.4 million for unpaid get the job done at the rental job, $512,000 for unpaid do the job at an adjacent parking garage and $940,000 in interest. In addition, Grycon is also entitled to $3.6 million in damages from 5350 Park’s insurer, Arch Insurance plan.

Stuart Sobel, Grycon’s attorney, explained 5350 Park will also have to spend for his client’s attorney fees. “We have a listening to on a motion to litigate the amount of money of lawyer charges up coming 7 days,” Sobel explained. “Under the agreement, they have to fork out it.”

Even so, Codina will not again down, Sobel mentioned.

“It does not make a large amount of company feeling to hold combating,” Sobel stated. “They really should shut this down. But they are not sitting down down at the table to negotiate a resolution.”

The Codina affiliate lately submitted a detect to charm Thomas’ remaining judgment.

“There is definitely very little new listed here,” Codina Partners Standard Counsel Joe Jimenez mentioned. “We disagree with the court’s conclusion. We feel there are pretty a quantity of errors, both factual and lawful, and we will pursue our rights.”

Jimenez reiterated a former assertion to The Real Offer that Grycon “fell woefully brief of its obligations,” which resulted in a correct firing from the career constant with the construction agreement.

In 2020, soon right after the termination, Grycon sued the Codina affiliate, alleging the developer was seeking to stay away from having to pay a final monthly bill of $3.6 million for the rental challenge, and about $500,000 for the garage. 5350 Park has a pending countersuit that was filed very last calendar year.

Armando Codina beforehand touted his firm’s impeccable record of steering clear of development litigation during its 42-calendar year heritage, right up until the Grycon lawsuit. At the time, Codina stated his enterprise has “an undisputed popularity for getting honest and sincere small business relationships.”

Citing testimony and evidence at trial, Thomas identified that Grycon experienced considerably finished the condominium project simply because 5350 Park obtained its certification of occupancy, and device closings experienced begun months prior to the building was all set for use.

Codina has designed three condominiums at Downtown Doral, including 5350 Park. The corporation ideas to include 5 much more condo properties to the learn-planned mixed-use local community.

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