Newspaper article St Louis Post-Dispatch (MO)

Developer Ordered to Pay Neighbors in Lawsuit Alleging Property Neglect

Newspaper article St Louis Post-Dispatch (MO)

Developer Ordered to Pay Neighbors in Lawsuit Alleging Property Neglect

Article excerpt

ST. LOUIS - A developer who owns dozens of vacant and condemned properties in St. Louis has been ordered to pay $135,000 to four neighbors who sued claiming his neglect of a Tower Grove East apartment building devalued their land.

St. Louis Circuit Judge Michael Stelzer issued an order Aug. 10 requiring the St. Louis Redevelopment Co., owned by Giro Katsimbrakis, to pay $135,000 to four neighbors who claimed the value of their homes suffered as a result of the developer's failure to maintain a four-family apartment building in the 2900 block of Sidney Street. Stelzer's order also requires Katsimbrakis' company to bring the property up to code.

The judge's ruling follows a bench trial last month. Property owners Erik Lintvedt, Stefannie Marcus, Heim@ LLC and APS Real Estate Services LLC filed suit last year for damages, claiming Katsimbrakis neglected the property he bought in 2013 and allowed it to deteriorate. …

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