Hudson Holdings and CDS come to agreement over Gulfstream Hotel; Fate of Iconic Property In Hands of DeSantis and Milmoe

LAKE WORTH, Fla., April 19, 2018 /PRNewswire/ -- Hudson Holdings, LLC and CDS International Realty, LLC have come to a settlement on their recent spate of public lawsuits. Hudson Holdings, the developer responsible for the Midtown Delray project at Swinton and Atlantic Avenue, is owned by Andrew "Avi" Greenbaum and Steven Michael while CDS is owned by vitamin kingpin Carl DeSantis and Bill Milmoe. Each party was suing the other in district court to effectuate a buy/ sell agreement for the iconic historic Gulfstream Hotel, in Lake Worth, Florida. CDS had claimed that Hudson did not perform on the agreement while Hudson professed to escrowing the funds and showing up at the closing table, but with no counterparty. 

CDS raised up the stakes last week when they brought in famed Palm Beach lawyer, Stuart Kaplan, to turn up the heat.  He filed a Federal Civil RICO lawsuit against Hudson Holdings.  Andrew Greenbaum, a Principal at Hudson described the Kaplan strategy as "brilliant, but impossible as we were the minority investor and CDS was the General and controlling partner, but strategically masterful."  Kaplan said that the strategy was meant to "get Hudson's attention" and "bring everyone to the table," which it apparently did.  The settlement between CDS and Hudson includes both the Gulfstream Hotel and the Linton Towers office building, located on the corner of Linton Blvd and Dixie Highway, in Delray Beach, Florida.  Details of the settlement were kept secret and sealed.  The new owner of both properties, however, is now CDS.  Both sides were happy with the outcome.  Steven Michael, a Principal at Hudson stated that, "we wish CDS success on both of these fantastic projects.  We put much work into them and we look forward to seeing them succeed in the future."  The following joint statement was issued by both parties.

"CDS Gulfstream LLC and CDS International Realty LLC ("CDS") along with Hudson Holdings and its affiliates announce that they have come to a mutual agreement on all of their recent business dealings and all of the related legal situations resulting. All lawsuits against each other have been mutually dismissed.  Hudson Holdings has sold its interests in the Gulfstream Hotel and Linton Towers to CDS.  The parties wish each other success on any and all future endeavors."

Dominic Martuscelli   Treasure Coast Business

SOURCE Hudson Holdings LLC