Man-about-town Michael Dezer, one of President Donald Trump’s most trusted South Florida business partners, has developed hundreds of millions in beachfront real estate over the past decade.
Yet, the 76-year-old multimillionaire car collector is stuck in a two-year lawsuit over the foreclosure of a dirt-cheap, 600-square-foot condo he co-owns with other investors in a building named after Trump.
That condo on the 17th floor of Trump International Beach Resort at 18001 Collins Ave., in Sunny Isles Beach is currently worth a grand total of $259,000, according to Miami-Dade County appraisers.
If you believe a lawsuit that’s expected to go to a trial later this summer, Miami Auto Museum owner Dezer as well as investors Alfredo and Olga Aguayo quit making good on the monthly payments to mortgage company Wilmington Trust in March 2010.
And now, the Trust wants to get the condo if Dezer — who’s named in the lawsuit under Michael Dezertzov, his birth name — and the others don’t plunk down $209,782.25 plus interest and fees to get rid of the debt.
Susan Raffanello, Dezer’s lawyer, didn’t comment when asked why a guy who’s believed to be among SoFla’s 25 richest men isn’t making payments on a small mortgage.
The case was originally filed in February 2015, according to court records.
In his response to the lawsuit, Dezer claims the statute of limitations ran out and Wilmington Trust filed too late. Besides, according to the response, JP Morgan owns the note and Wilmington has “no standing” in suing Dezer.