An AIG joint-venture firm requested a subpoena for CB Richard Ellis vice chairman Darcy Stacom for a videotaped deposition in its $25 million counterclaim against Kushner Cos. The firm, East Coast Residential Associates, wants to depose Stacom in
the case that stems from the 2007 deal in which it purchased 16,800
rental units located mainly in southern New Jersey and Pennsylvania,
for $1.9 billion. According to court documents obtained by The Real Deal, Judge
Martin Schoenfeld has ordered Stacom to appear for the deposition at 10
a.m., Oct. 21. Michael Fazio, attorney for East Coast, told The Real Deal that the subpoena would be served within the next day or two. Kushner Cos., the Florham Park-based real estate developer led by Charles and son Jared Kushner, also the publisher of the New York Observer, originally sued East Coast Residential in 2008, claiming it failed to hire 11 property managers that oversaw the rental properties in the portfolio. [more]