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Is this nasty feud between brokerage partners a sign of trouble in the condo market?
One of Miami’s highest-profile real estate brokerages is engaged in an ugly split, with accusations of substance abuse, mismanagement and runaway expenditures.
For 25 years, International Sales Group — ISG — has been known as the sales wizards behind condo projects at Brickell City Centre, Echo Brickell and Muse Residences in Sunny Isles. But earlier this week, the Real Deal reported on a legal fight between principals Philip Spiegelman and Craig Studnicky that began last spring.
The legal tussle has become Topic No. 1 in Miami real estate circles. At least one observer believes the breakup is a symptom of the cooling luxury market and may be a harbinger of tougher times to come.