Lawsuit over Plaza penthouse deposit reinstated

TRD New York /
Jun.June 27, 2012 11:30 AM

The unnamed buyer of a penthouse at the PlazaHas Had His Lawsuit Against Developers Plaza Residential Owner LP reinstated, the New York Post reported. The hedge funder filed suit after the light and airy pad he was allegedly promised was a disappointment, with columns blocking his Central Park views. The suit also says that the “large windows,” the buyer was promised measure only three-foot by three-foot.

The buyer reneged on the deal but was not refunded his $6 million deposit, the Post said.

This is not the first suit over a Plaza penthouse. In 2008, the buyer of a $53.5 million, three-level, two-unit penthouse at the Plaza backed out of the deal and sued the building’s developer, Elad Properties, for similar reasons.

A state appellate court reinstated the suit yesterday, saying that if “material alterations,” were made to the apartment, the suit could have merit, the Post said. [Post]

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