D
etroit officials have filed the largest nuisance abatement lawsuit in the city's history against a Florida-based company and its owners, alleging they are responsible for over 400 properties with rampant blight and health hazards. The suit targets Real Token, also known as RealT, and its co-founders, Remy and Jean-Marc Jacobson, who operate a network of cryptocurrency real estate companies that have invested in low-income neighborhoods. Many of the properties are rental units or vacant homes in disrepair, posing public health threats.

    The lawsuit lists 53 priority one properties deemed "unquestionably harmful" to the public's health, safety, and welfare. City officials claim Real Token neglected its responsibility to ensure compliance with basic health and safety requirements, despite receiving numerous correction orders and warnings.

    RealT's website promises investors an average annual return of 6-16%, attracting over 65,000 investors worldwide. The company is currently advertising Michigan properties for around $50, available only to foreign investors. Real Token blames third-party property management companies for the conditions, alleging they stole money meant for repairs and maintenance.

    However, City Councilman James Tate disputes this claim, stating that the city sent warnings directly to Real Token, which failed to take corrective action. The lawsuit seeks remedies including payment of $500,000 in fines, compliance inspections, and certification of properties. Detroit Corporation Counsel Conrad Mallett also seeks to hold the Jacobson brothers personally liable for their tenants' circumstances.

    Real Token responded with an email stating they have been making repairs since December 2024 and taking responsibility for their mistakes. They claim to be addressing blight violations, administrative filings, and maintenance issues, but acknowledge that this process takes time.