A Miami-Dade judge has ruled in favor of Dhruv Piplani, the lead equity partner in the troubled Three Hundred Collins condominium project, dismissing a civil case in which an investor sought to recover a $1 million loss. The ruling marks the end of a prolonged legal battle surrounding the boutique condo project located at 300 Collins Avenue in Miami Beach’s prestigious South of Fifth neighborhood.
The Investor’s Claim and Legal Struggles
On June 16, 2025, Miami-Dade Circuit Court Judge Valerie Manno Schurr issued a final judgment favoring Piplani and two entities connected to the development. The lawsuit, filed by investor Hang Bae Lee in 2019, alleged that Piplani misled him regarding the potential returns on his investment in Three Hundred Collins. However, the judge determined that Lee’s claims were without merit and dismissed the case entirely.
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Lee’s legal fight has spanned several years, representing the final chapter in a series of court cases involving the project, which has been plagued by cost overruns, contractor disputes, and other complications since its inception.
A Troubled Development Journey
Three Hundred Collins, a luxury 19-unit condominium project, was completed in 2018 by JMH Development, led by Jason Halpern. However, that same year, JMH Development was forced to relinquish its interest in the project after losing a separate lawsuit filed by Piplani. Despite the issues with cost overruns and contractor delays, the project was completed, but not without significant challenges.
The ruling on Lee’s lawsuit brings closure to the complex and drawn-out legal saga surrounding Three Hundred Collins. Marko Cerenko, attorney for Piplani and the two associated entities, emphasized the significance of the court’s decision. “This puts an end to the whole Three Hundred Collins saga and the various lawsuits that have surrounded it since 2018,” Cerenko remarked. “The judge determined that Lee made his investment with eyes wide open. Everybody who invested equity into the project lost money, including my client.”
Lee’s Allegations and the Court’s Findings
In his lawsuit, Lee accused Piplani of misleading him during pre-investment discussions, particularly with Louis Buckworth, a partner in PSB Collins, the project’s investment entity. Lee claimed that Buckworth used financial projections and marketing materials from the project developer, JMH Development, to convince him to invest.
However, Judge Schurr, after overseeing a three-day bench trial, found that there was insufficient evidence to support Lee’s claims against Piplani. The judge also determined that Buckworth, not Piplani, had relied on marketing materials produced by JMH Development, and that Piplani was not directly involved in the negotiations with Lee.
“Mr. Lee was looking for a scapegoat to try and get his $1 million back,” said Cerenko. “I commend the judge for seeing through the charade and ruling in our favor.”
The Outcome of Three Hundred Collins
When Piplani took over the development in 2018, only one unit remained unsold—the luxurious penthouse priced at $5.3 million. Additionally, PSB Collins received the proceeds from the $1.6 million sale of a unit and any remaining cash in the project’s bank accounts. Despite the financial struggles, the development was ultimately completed, and Piplani managed to bring the project to a close.
The Conclusion of a Legal Battle
This court ruling marks a significant turning point for all parties involved. For Piplani, the victory brings closure to a legal saga that has loomed over Three Hundred Collins for years. For Lee, however, it signals the end of his attempts to recoup the lost $1 million from his ill-fated investment.
While the condo project itself is now completed, the legal ramifications will resonate for some time. The case serves as a reminder of the risks involved in real estate investments and the importance of transparency and due diligence in the process. Though the court’s decision has ended the battle, the lessons learned from Three Hundred Collins will undoubtedly linger in the minds of investors and developers alike.