St. Petersburg, FL, November 14, 2014 — Iurillo Law Group attorneys Camille Iurillo and Sabrina Beavens successfully paved the way to the sale of the historic YMCA building, a Mediterranean jewel in downtown St. Petersburg, after enforcing a complex settlement agreement in state court on behalf of the property owner.
According to court documents, a court approved settlement was breached when the buyer failed to perform as agreed. The settlement then allowed for a back up buyer to proceed with the sale. However, the defaulting buyer attempted to block the sale. The Judge ruled in favor of Iurillo’s client, VPC3, and ordered the sale to proceed with the back up buyer.
“The Judge’s ruling enforced the terms of the settlement agreement, allowing another purchase agreement worth $1.4 million to immediately move ahead,” said Camille Iurillo, President of the Iurillo Law Group. “This wonderful historic property will now be preserved under the exceptional vision of the highly qualified back up buyer.”
The YMCA was built during the “Sunshine City’s” 1920s boom era. Like many structures from that time, it has a magnificent design that includes thousands of decorative tiles. The property owners at VPC3 are delighted that the new buyer has the resources to restore the building to its former glory.
“We are very pleased with the outcome in this case,” said Phil Powell who heads the VPC3 ownership group. “Camille Iurillo and Sabrina Beavens did an excellent job explaining this case to the Judge, and the results are a testament to their outstanding advocacy skills. VPC3 was able to close on the sale with the back up buyer so that efforts to rehabilitate the YMCA building can finally begin. We couldn’t have asked for a better result.”
About The Iurillo Law Group
The Iurillo Law Group is a full-service business law firm focusing on business and corporate law, business litigation, business transactions, corporate bankruptcy protection and litigation, and real estate law. The Iurillo Law Group represents a diverse range of businesses and industries including institutional and private lenders, investor groups and developers. The Iurillo Law Group has achieved an enviable record of success in notable cases in Florida and across the country. The firm is a premier provider of quality legal services to individuals, small businesses, and large corporations. The Firm currently has offices in Florida and New Hampshire. For more information, call 727-895-8050 or visit www.iurillolaw.com.