Two Trees settles square-foot suit for $150,000

New York /
Apr.April 06, 2011 12:12 PM

Brooklyn developer Two Trees Management settled its suit for $150,000 after a couple in contract for a $795,000 two-bedroom condominium unit in 110 Livingston Street in Downtown Brooklyn found their living room was 109 square feet smaller than the 734 square feet advertised. The New York Times reported that Rishi and Heather Bhandari asked for a discount at closing, but Two Trees insisted that the couple heed the contract, meaning the couple had to purchase the condo or back out and recoup their deposit. The two parties were in dispute until March 23 when Two Trees agreed to return the deposit with interest ($81,077) and to pay the couple an additional $150,000. In return, the couple agreed not to rent or buy from Two Trees for four years. Two Trees also promised the Bhandaris $20,000 if they kept the case confidential, but the couple broke that agreement when they told reporters about the settlement after depositing their $150,000 check. “I just don’t think that’s right,” Rishi Bhandari said. [NYT]


Related Articles

arrow_forward_ios
Invesco's Marty Flanagan and 550 West 54th Street (Illustration by Kevin Cifuentes for The Real Deal with Getty Images, Invesco, Douglas Elliman)
Invesco moves to boot penthouse tenant at Mercedes House
Invesco moves to boot penthouse tenant at Mercedes House
From left: Vorea Group’s Peter Papamichael, Turnbridge Equities’ Andrew Joblon and Chetrit Group’s Joseph Chetrit
Ranking New York’s most active developers
Ranking New York’s most active developers
Two Trees Management's Jed Walentas and 50 West 23rd Street (Walentas/via Marc Skrivo, Google Maps, iStock)
Trustpilot takes 34k sf at Two Trees’ Midtown South building
Trustpilot takes 34k sf at Two Trees’ Midtown South building
Jed Walentas and renderings of the proposed project (River Ring, Getty)
Council strikes deal on Two Trees’ River Ring in Williamsburg
Council strikes deal on Two Trees’ River Ring in Williamsburg
A rendering of River Ring and Two Trees' Development Principal Jed Walentas (River Ring, Marc Skrivo)
Two Trees’ massive project eyes “mad dash” to approval
Two Trees’ massive project eyes “mad dash” to approval
WATCH: Here’s what Two Trees has planned for its Williamsburg “River Ring” site
WATCH: Here’s what Two Trees has planned for its Williamsburg “River Ring” site
WATCH: Here’s what Two Trees has planned for its Williamsburg “River Ring” site
Two Trees CEO Jed Walentas and renderings of the controversial project. (Getty, James Corner Field Operations / Bjarke Ingels Group)
Two Trees says it will sell Williamsburg site if rezoning isn’t approved
Two Trees says it will sell Williamsburg site if rezoning isn’t approved
Two Trees’s Jed Walentas, Bjarke Ingels and a rendering of the project (Credit: Getty Images, BIG)
Two Trees unveils bold plan for Williamsburg towers, beach
Two Trees unveils bold plan for Williamsburg towers, beach
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...