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Miami condo blogger settles lawsuit

Blog remains 'lifeblood' of Realtor's business
Published on Jan 15, 2009

Lucas Lechuga's Miami Condo Investments blog remains the lifeblood of his business, nearly one year after he and his former employer were hit with a $25 million lawsuit by a developer who said Lechuga defamed him.The lawsuit -- dismissed on Jan. 6 after parties in the case reached separate, confidential settlements -- stemmed from Lechuga's speculation about the prospects for Opera Tower, a 56-story, 635-unit condo project built by a prominent Miami developer, Tibor Hollo. Lechuga predicted that the development, in Miami's downtown Brickell district, was "doomed" and would have a 50 percent default rate. But Hollo said the main impetus for suing Lechuga and his employer, mega-broker Esslinger-Wooten-Maxwell, was an earlier, Nov. 25, 2007, blog post claiming the developer "went bankrupt in the 1980s" and to expect "a repeat performance within the next six months."Although Hollo acknowledged having been in some tight situations in his long career as a develo...

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