Investor sues to bail out of four WCI condos
A Virginia investor who bet on South Florida’s condo market in headier days is trying everything he can to get out of contracts on four Singer Island units and recover about $1.6 million in deposits.
John Cherin has filed three federal lawsuits against Bonita Springs-based WCI Communities, which developed the Resort at Singer Island and One Singer Island.
WCI wants to close on the sale of the units and has given no indication it will settle.
The legal challenges come at a bad time for one of Florida’s most active luxury home and condo builders. WCI’s shares