After Miami building deemed unsafe, unit owner questions buyout email from Suarez-connected firm

MIAMI – An email from a company floating a potential buyout offer to a unit owner at a historic downtown Miami building suddenly deemed unsafe is raising eyebrows because of the firm’s connection to the city’s mayor, Francis Suarez.

Local 10 News broke the story about the confusing situation at the Huntington Building, located at 168 SE First St., since city officials declared it unsafe and evacuated it in March, much to the befuddlement of unit owners. Those unit owners now say the building is safe, but they’re technically not allowed back in.

The sudden order last spring raised red flags for some. One unit owner questioned at the time whether a developer was trying to “buy cheap.”

The recent, unprompted email is raising even more red flags for the unit owner who received it.

It came to Deliana Alexander from a sales associate at an Aventura-based company called ISG World, discussing a potential offer for her unit.

“We have been losing money and we’re up to $350,000 in losses so we were interested in hearing how much they have to offer,” Alexander said.

But then things got weird, she said. Alexander was asked to sign a non-disclosure agreement in order to proceed.

That led her to do some research on the company. It turns out that Miami Mayor Francis Suarez sits on the company’s advisory board.

“We were very shocked that our mayor, Suarez, is on the board of that real estate agency,” Alexander said.

Local 10 News asked to speak with Suarez Thursday but we were told he was at a United States Conference of Mayors meeting in Washington, D.C.

A spokesperson for Suarez said the mayor had no knowledge of the building’s code violations and denied any connection with the email.

“Any allegation suggesting the Mayor played a role in this transaction is false,” spokesperson Stephanie Severino said.

Suarez has been under the microscope over the past year over his business dealings, foreign ties and frequent overseas trips. While there have been no legal or ethical conclusions drawn about any of the allegations, the mayor has faced calls to resign.

Speaking to the Miami City Commission recently, Alexander said the situation regarding her building reminds her of the communist country she fled.

“It appears to us city agencies are being weaponized,” she said.

Through a spokesperson, Craig Studnicky, the chief executive officer of ISG World, released a statement to Local 10 News on Thursday evening:

“It is important to first clarify that neither ISG World nor DaGrosa Capital, along with its affiliated entities, are purchasing or developing the Huntington Property located at 168 SE 1st Street in Downtown Miami. In addition, there have been no discussions or engagements between ISG World, Dagrosa Capital, and its affiliates, with Mayor Francis Suárez regarding this specific property.

A European investor identified an investment opportunity and, with the assistance of their attorney, Valerio Spinaci Esq., contacted Marber Arellano, a real estate agent at ISG World. This investor became aware of this through a news report detailing the building, Huntington, as being condemned. Upon entering into an agreement to work with the investor, and following the guidance of the investor’s attorney, Valerio Spinaci Esquire, the real estate agent provided a Non-Disclosure Agreement (NDA) bearing the attorney’s letterhead to the current unit owners at the Huntington property.

When dealing with developers and/or investors, it is standard practice to request unit owners to sign a Non-Disclosure Agreement (NDA). The real estate agent diligently adhered to this established protocol, as directed by her client’s attorney.

Furthermore, I want to emphasize again that there have been no discussions or interactions between Mayor Francis Suarez and ISG World, DaGrosa Capital, or its affiliated entities concerning the property located at 168 SE 1st Street in Downtown Miami. Mayor Francis Suarez, DaGrosa Capital, and I, Craig Studnicky of ISG World, were only made aware of it yesterday morning for the first time.

It is of utmost importance to reiterate that any information suggesting otherwise is factually inaccurate, and the allegations being made are without merit. ISG World has been actively conducting business in this community for over 30 years, and DaGrosa Capital Partners also maintains a longstanding reputation for conducting ethical and lawful business practices. Both firms are renowned for their integrity and professionalism.”

Craig Studnicky, CEO and Broker of Record, ISG World

Local 10 News also reached out to City Commissioner Christine King, who represents the district where the Huntington Building is located. We had not received a response as of Thursday evening.