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Naples-based consultant, Genesis Project Management and Consulting's John Stamboulis, claims he was owed $1.7 million by GV Development Group, led by Italian entrepreneur Gianluca Vacchi, for financial evaluations of three Miami condo projects worth part of a $4 billion pipeline. The dispute centers on the cancellation of their consulting agreement in October, after which Genesis alleges GV Development stopped making payments despite owing over $1 million.

    Genesis had been hired to analyze Mercedes-Benz Places Miami, 888 Brickell by Dolce & Gabbana, and another project at 1250 West Avenue in Miami Beach. The joint venture is led by JDS Development's Michael Stern, who partnered with GV Development in October. Vacchi's firm initially paid Stamboulis $160,000 for two months of work but then stopped sending payments.

    Genesis specializes in high-end development services and had budgeted $1.6 million for the Mercedes-Benz Places Miami project, which included relocation costs to Miami-Dade County. In his reports, Stamboulis criticized the project's financial models, warning that it would be "significantly over budget" without design changes. Text messages attached to the complaint show Vacchi and GV Development's Rafi Gibly reassuring Stamboulis of payment but ultimately failing to deliver.

    GV Development denies the allegations, calling them "frivolous and entirely without merit." Jason Giller, an attorney for the firm, stated that they will move for sanctions and file a counterclaim.