Sapir hit with commission suits at 261 Madison Avenue, 100 Church Street

TRD New York /
Jun.June 29, 2010 02:15 PM
From left, 100 Church Street, 260-261 Madison Avenue and Tamir Sapir

The Sapir Organization is facing litigation from commercial real estate brokerage Rosenhaus Real Estate, which claims the developer failed to pay commissions at its 260-261 Madison Avenue office complex in Midtown and its former office tower at 100 Church Street near the World Trade Center site.

Rosenhaus, in a suit filed last Friday in New York State Supreme Court, alleges that it brokered a deal in 2007 for HQ Global Workplaces, which leased the entire 8th floor at 260-261 Madison Avenue. Under the agreement, the developer agreed to pay a total of more than $830,500 in four installments.

The commercial brokerage, led by Richard Rosenhaus, alleges the first two installments, of $469,419, were paid, but the remaining two payments were not.

Regarding 100 Church Street, the suit alleges that Rosenhaus brokered a June 2008 deal for HQ to sign a lease for $420,249, that was payable in two installments. The first installment was paid, but the second installment of $210,125 was allegedly not paid.

“The Sapir Organization is confident that an amicable agreement will be reached by the parties involved in this matter,” said a spokesperson for Sapir.

Frederick Mandel, an attorney for Rosenhaus, declined to comment.

A court hearing is scheduled for tomorrow.

The lawsuit is the latest in a series of claims against Sapir by brokers and contractors for alleged failure to pay commissions or construction payments.

For example, on May 7, Newmark Knight Frank filed suit against the developer for allegedly failing to pay final commission installments following a lease renewal by United Staffing Systems at 260-261 Madison. Newmark demanded a $164,076 judgment against 260-261 LLC, the operating company for 260-261 Madison.

Lionel Barasch, Newmark’s attorney, said he is still waiting for an official answer to the complaint.
In January, SL Green took over ownership at 100 Church, after Sapir defaulted on the building loan in August 2009. Newmark was later appointed to take over leasing at that property.


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Sapir hit with commission suits at 261 Madison Avenue, 100 Church Street

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