Published by Peter Zalewski
10/6/2024 
7:59:44 PM 
This week’s Miami Condo Market Intelligence Report™ newsletter examines alleged financial crimes by board members and employees of Florida condo and homeowners associations in 2024.
The catalyst for our focus was this week’s arrest of a condo president in the Miami suburb of Aventura for an alleged $1.5 million theft.
Gregori Arzumanov – the quantum physicist-trained president of the Turnberry On The Green condo tower in Northeast Miami-Dade County – was arrested on Oct. 1, 2024, on a number of felony charges, including racketeering, grand theft and money laundering, according to a Miami-Dade County arrest warrant.
Police alleged in the arrest warrant that Arzumanov and his companies maneuvered to gain control of the condo association by becoming the board president, property manager and chief building engineer in order to use the community’s estimated $3.3 million operating budget to “enrich” himself and his family.
Condo Market Inventory Tracker
A Snapshot Of South Florida Vintage Condos
| Databases | Active Listings | Months Of Supply |
|---|---|---|
| Condos | 15,388 | 8.2 |
| Luxury Condos | 985 | 9.1 |
| Shortsales | 19 | 12.1 |
| REOs | 98 | 5.8 |
| Rentals | 12,874 | 3.7 |
Peter Zalewski is a licensed real estate broker and consultant focused on the South Florida condo market. Zalewski is a former special contributor to the Miami Herald and a former real estate columnist for The Real Deal magazine. Zalewski now hosts the Miami Real Estate Investing Podcast that is available in audio and video wherever you get your podcasts.
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