In a significant legal twist, the legacy of the late Sergio Pino, former CEO of Century Homebuilders Group, faces challenges as a $45.4 million foreclosure lawsuit looms over the 850 Living apartment complex in Miami. The lawsuit, filed by Lument REO LLC, part of Lument Structured Finance, targets Century Gables View Multifamily LLC and Philip J. Schechter, who is serving as the curator of Pino’s estate.
The 850 Living Complex Under the Spotlight
The property in question is an eight-story, 230-unit apartment building located at 811 N.W. 43rd Ave. It was completed in 2020 on a 2.66-acre site. Lument provided a $49.5 million mortgage for this project in 2021, with Pino personally guaranteeing the loan. However, following his death in July 2024, the borrower began defaulting on the loan by missing payments starting in August.
Troubling Background and Legal Issues
Sergio Pino’s death was ruled a self-inflicted gunshot wound, occurring just as the FBI was set to arrest him on charges related to hiring individuals to harm his wife, Tatiana Pino. This dramatic turn of events led to additional legal entanglements, including the arrest of nine former associates who were allegedly involved in the plot.