Shaya Boymelgreen is facing a lawsuit alleging he failed to pay a loan guarantor $2.4 million from the profits of a land sale in unincorporated southwest Miami-Dade County. The suit, filed by Miami-based lawyer David Efron and his entity Norfe Krome, accuses Boymelgreen and his affiliate Deaderick SSB of breach of oral contract, negligent misrepresentation, and unjust enrichment.
According to the complaint filed last month in Miami-Dade Circuit Court, Boymelgreen sold 100 vacant acres for $12.6 million last year but did not pay Efron’s entity its alleged 30 percent share of the $6.8 million profit. Instead, the lawsuit claims that Boymelgreen transferred all profits into JP Roosevelt, an affiliate developing the 42 Pine condo project in Miami Beach.
Herman J. Russomanno III, Efron’s attorney, stated: “Boymelgreen ‘intentionally’ didn’t inform Efron of the closing date, ‘in order to avoid paying’ Efron’s share at closing.” Boymelgreen has not responded to requests for comment.
Efron guaranteed and collateralized a loan for Boymelgreen’s purchase of the property in exchange for 30 percent of any resale profits, according to Russomanno. Public records show that Boymelgreen acquired the land from Efron through two purchases in 2019 and 2022 totaling $5.8 million. In 2022, Boymelgreen’s entity secured a $5 million loan backed by the property and guaranteed by Efron’s entity.
After selling the land for $12.6 million and paying off the loan in August, Efron alleges he was owed $2.4 million as his share of profits but did not receive payment.
The lawsuit further alleges that all proceeds were diverted to JP Roosevelt for use in constructing 42 Pine—a planned eight-story condominium with 50 units currently under development in Miami Beach. Additionally, Boymelgreen listed an adjacent six-story office building for sale at an asking price of $19.9 million in July.
