Unpaid contractors and suppliers have placed at least 15 construction liens totaling $6 million on Oversea Apartments at Flagler Banyan Square in West Palm Beach, FL since February, 2020.
The West Palm Beach apartment building was developed by Woodfield, a North Carolina-based firm. The Oversea is Woodfield’s second development in West Palm Beach. The development firm was founded in 2005 by Mike Underwood and Greg Bonifield.
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As of February 2020, a total of 15 mechanics liens have been filed on the Oversea project, six of which have been released. The project is referred to as “Woodfield WPB Apartment” in the construction lien filings, and each lien was filed with the Palm Beach County recorder’s office.
A construction lien, more commonly known as a mechanics lien, is a debt recovery tool that contractors can use when unpaid on a construction project. Liens encumber the property title, giving the contractor a security interest in the property. A lien generally cannot be lifted until the debt is satisfied.
Stiles Construction, the general contractor on the Woodfield WPB Apartment project, filed the largest mechanics lien. The lien was filed on September 2nd, 2020, claiming just over $4 million. The original contract price between Stiles and West Palm FCH Apartments was $58.2M.
Loveland Electric, a subcontractor hired by Stiles, filed a mechanics lien worth $614K on July 20th, 2020. Loveland was contracted to perform various electrical work for the project from June 2018 through July 2020. The original contract price was $4.5 million.
Master Plaster furnished labor and materials for stucco and exterior framing work pursuant to a contract with Stiles. After allegedly going unpaid on the project, Master Plaster filed a mechanics lien claim worth $450.8K on August 20, 2020 for work conducted from June 2019 through May 2020. The original contract price was $2.3 million.
World Electric Supply, a supplier to Loveland Electric, filed a lien worth $399.9K on July 20, 2020. World Electric Supply was hired by Loveland to furnish electrical materials for the project starting in July of 2018 and ending in July of 2020, under an original contract worth $1.9 million.
Paramount Depot, a cabinetmaker and subcontractor to Stiles, claimed the unpaid amount of $162.8K on August 20, 2020 for labor and materials related to cabinetwork. Paramount furnished labor and materials from August 2019 through August 2020.
American Engineering, after providing general labor and services for the project, filed a claim for $159.4K on September 30, 2020. American Engineering was contracted by Stiles with an original contract price of $1.1 million, starting in April 2018 and ending in July 2020.
Sky Climber Access Solutions, an equipment rental company hired by Master Plaster, filed a lien worth $95.6K on March 19, 2020. Sky Climbers was hired to provide rental equipment as well as miscellaneous labor and other materials for the project from August through December of 2019.
BrandSafway Solutions, another equipment supplier to Master Plaster, provided labor to supply and install scaffolding, insulation, fireproof, painting, and other materials on the project. After going unpaid, BrandSafway filed a lien claiming $76.6K on March 14, 2020. BrandSafway furnished their material and labor in July of 2019, and their materials were reportedly still on site at the time of filing their lien.
The final active mechanics lien against the Oversea project was filed by Metro-Fire Protection Services for $53.2K on August 14, 2020.
All told, there is an outstanding debt of $6,053,449.90 tied to the Oversea Apartments at Flagler Bayan Square.
Six Liens Have Been Released
Six of the 15 mechanics liens against the apartment complex have been released. Lien releases are typically filed when the paying party and lien claimant come to an agreement to satisfy the outstanding debt. Releases are commonly filed when the claimant gets paid.
The six liens released on the Oversea project include:
- Jacob Industries – $965,979.98
- Oceanside Masonry – $384,741.98
- Trojan Builders – $147,967.07
- Maxim Crane Works – $130,720
- L&W Supply – $72,201.14
- GrayBar Electric – $3,193.16
About The Oversea
The Oversea is located in Flagler Banyan Square, a development built on the site of the former West Palm Beach city hall. With a price tag exceeding $145M, construction on Flagler Banyan Square began in 2018 and is predicted to conclude in the third quarter of 2020.
The Oversea is just one of the businesses that occupy Flagler Banyan Square, with office space, restaurant, retail space, and a hotel on site.
When the old city hall site was sold, West Palm FCH Apartments LLC, the owner of Oversea, bought the mixed-use portion of the land for $9 million. The Oversea Apartments have since opened in early 2020.
The Oversea itself houses 251 apartment units, a rooftop social space, a pool, media room, garage parking, and other amenities.
Icy Housing Market in South Florida Drives Construction Disputes
Since the coronavirus pandemic hit Southern Florida, there has been a spike in lien filings and other construction disputes.
While some states are experiencing a surprising boom in the housing market, Florida is seeing some of the most sluggish housing trends in the country. According to data from Realtor.com, the Miami-Fort Lauderdale-West Palm Beach area had the lowest “hotness rank” in the country in September 2020.