US EditionDetroit Sues Blockchain-Based Real Estate Company From Florida
- On Wednesday, July 2, 2025, officials in Detroit initiated the city’s most extensive legal action to date targeting RealToken, a Florida-based cryptocurrency real estate firm, for neglecting more than 400 properties that suffer from widespread hazardous conditions.
- The suit stems from RealToken's complex network of 165 LLCs used to evade accountability, while the company has accumulated about $500,000 in blight tickets and failed to maintain basic health and safety standards for many rental homes.
- City officials and tenants report severe maintenance issues such as leaking roofs, broken windows, and overgrown yards, with residents like Sylvia Young describing properties as unlivable and calls for tenants' housing dignity by Councilwoman Angela Calloway.
- Detroit Corporation Counsel Conrad Mallett said the lawsuit seeks remedies including holding the Jacobson brothers personally liable and restricting LLC name changes to ensure compliance, emphasizing, “Nobody is going to feel sorry for RealToken.”
- RealToken acknowledged past management faults and stated since December 1, 2024, it invested in in-house property management and instituted checks to prevent recurrence, while continuing repairs and addressing tenant and city violations daily.
15 Articles
15 Articles
Detroit sues Real Token real estate firm with hundreds of violations
An apartment building with fire damage. A home without heat or smoke detectors. Multiple properties with broken windows. This story also appeared in Detroit Free Press Over on the east side, a Detroiter living in her home without running water for two months, forcing her to survive off of bottles of water. Another tenant living upstairs in the same apartment complex with no hot water in her kitchen, electrical sockets…
City of Detroit files record nuisance lawsuit against crypto-based real estate firm
Detroit officials launched what they’re calling the city’s largest-ever nuisance abatement lawsuit against RealToken, a cryptocurrency-based real estate platform, citing widespread unsafe living conditions and code violations across hundreds of properties.
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