Extell sues firms for commissions

New York /
Oct.October 06, 2010 02:30 PM

Gary Barnett

Extell Development is suing several New York City residential firms for advanced payments their agents received on sales that ultimately fell through at the Lucida condominium, according to Crain’s. Although it is not immediately clear which brokerages were named in the suit, court filings show that Brown Harris Stevens is among the firms targeted — Extell is suing BHS for a $48,480 advanced commission on the sale of a $3.2 million condo, where the buyer backed out after signing the contract. While an Extell spokesperson said that the developer is owed the payment back because “commissions are only earned when a unit closes,” Hall Wilkie, president of BHS, said his agents are protected by their contract. “[Extell] paid these commissions and our agreement didn’t say it was refundable,” Wilkie said. Currently, 75 of the 110 units at the Lucida, located at 151 East 85th Street near the corner of Lexington Avenue, have been sold, according to StreetEasy.com. [Crain’s]

 

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