Real estate broker Nathaniel Christian sued Ron Burkle’s Yucaipa Companies seeking $22.8 million in New York state court yesterday, Law360 reported, alleging that he acted as the broker for Yucaipa’s purchase of a stake in Soho House but was never compensated.
Christian, principal of NCG Real Estate, claims he introduced Burkle to owners of the Soho House Group in 2006. At the time Burkle was considering taking a $380 million stake in the company, purchasing the Soho hotel and social club in New York for $80 million and investing $90 million to convert a Soho club in Los Angeles.
No deal was made until last month, when Burkle closed on a $550 million investment in Soho House and related real estate last month. Christian is seeking to recover a 5 percent commissio,n or $22.8 million. He is being represented by Adam Leitman Bailey attorney Christopher Halligan. [Law360]