Connect with us

Hi, what are you looking for?

Jewish Business News


Judge Awards Developer $21 Million In Florida Real Estate Case

Boaz had sued a third partner as well, Yizhak Toledano, over the same facts of the case, but Toledano settled his portion of the case before the trial in what has been a long running case, taking over five years to bring to a close.

In last week’s judgment US$14.9 million related to a 500 unit condominium in Las Vegas, US$5.7 million related to a smaller condominium project in Port Orange in Florida and about US$1 million to some land in Hallandale Beach, also in Florida.

It seems the two defaulting partners, both Israelis in fact, were friends of Boaziz who had showed them how to make money in real estate. They eventually developed three properties together in Florida and Nevada.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

After the case Boaziz’s lawyer, Michael Moskowitz, positively gushed, “Mr. Boaziz is gratified that after five years of very extensive litigation, the truth came out, ” adding: “He and his partners, Mr. Toledano and Mr. Houri, were very close friends. Mr. Boaziz took in these two fledgling investors, helped teach them the real estate business, and this is how Mr. Houri repaid him.”

For his own part Houri apparently tried to assert a number of counterclaims in court, but it turned out the Judge did not believe any of them.

Boaziz himself said in court he relied on assurances from Houri regarding his interests in the deals in 2004-2006, as both of his parent became ill and died, and he wasn’t paying enough attention.

Judge Stettin, though, found that Boaziz’s failure to review documents enough did not exonerate the defendant at all, saying, “A partner who misrepresents material facts to gain an unfair advantage over his joint venture partner is not entitled to defend upon the ground that his partner could have done more to avoid being cheated.”

Many wise people do say one should beware of doing business with friends. Some wise people also say “good contracts make good friends, ” which is a rather different kind of statement entirely. Perhaps Mr. Boaziz was more than a little naïve here, and he is lucky to get his money back from a careful Judge.

Mordechai Boaziz (Flicker profile) is president and CEO of the Maverick Investments Real Estate Corporation. In addition to owning and operating hospitality properties, Mordechai Boaziz has been actively involved in numerous real estate development projects, including condominium conversions, multi-family housing projects, office building developments, and as owned and operated a number of tour and travel related agencies.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.