After curious lawsuit, One Madison Park buyers get deposit back

New York /
Mar.March 12, 2013 10:30 AM

A lawsuit over a deposit involving branding guru David Lipman and Related Companies’ One Madison Park has been resolved, Curbed reported. Lipman intended to sell two fifteenth floor apartments in the Flatiron District building to David and Marcia Kaplan for around $6.5 million. But after lengthy legal wrangling at the building, buyers’ were allowed to take back their deposits, though the Kaplans never received theirs. 

It turned out that Lipman never had possession of the condos, though he has been fighting an extended court battle to secure them as he alleges that the building owners promised him the apartments as compensation for his branding advice.

The court ruled in favor of the Kaplans, who got back their entire $622, 500 deposit as well as $117,500 in interest, their attorney William Turkish told Curbed.

In April of last year, developer Related Companies agreed to pay tens of millions of dollars in settlement claims at the property, as The Real Deal previously reported. [Curbed]  –Hiten Samtani


Related Articles

arrow_forward_ios
Related's Jamar Adams and Steve Ross with 14-06 Gateway Boulevard (Credit: Getty Images and Google Maps)
Related is the latest developer to target the Rockaways
Related is the latest developer to target the Rockaways
Mark Zuckerberg with 55 and 30 Hudson Yards
Meta to cut Hudson Yards office space
Meta to cut Hudson Yards office space
From left: Ilitch Holdings' Chriistopher Ilitch and Related Companies' Stephen Ross with 2250 Woodward Avenue
Ilitch, Ross propose $1.5B Detroit development
Ilitch, Ross propose $1.5B Detroit development
Related Companies' Stephen Ross with One Flagler, 360 Rosemary, and 515 Fern (Getty, Related Companies)
Mapping out Steve Ross’ South Florida empire
Mapping out Steve Ross’ South Florida empire
Mayor Eric Adams, Related Companies' Stephen Ross and Sterling Equities' Fred Wilpon with a rendering of the soccer stadium (The Related Companies, Sterling Equities, Getty)
Related, Sterling to develop Queens soccer stadium, hotel, 2,500 apartments
Related, Sterling to develop Queens soccer stadium, hotel, 2,500 apartments
From left: Related Companies’ Stephen Ross, Sterling Equities’ Fred Wilpon, and Willets Point in Queens (Getty, Jim.henderson/Public domain - via Wikimedia Commons)
Related, Sterling file first plans for Willets Points housing
Related, Sterling file first plans for Willets Points housing
A photo illustration of Related Companies' Stephen Ross along with 514 West 36th Street (left) and 517 West 35th Street (right) in Hudson Yards (Getty, Google Maps)
Related files plans for Hudson Yards office tower
Related files plans for Hudson Yards office tower
From left: Russ & Daughters' Niki Russ Federman and Josh Russ Tupper; Related Companies' Stephen Ross; and 50 Hudson Yards (Getty, LoopNet)
Russ & Daughters to open shop at Related’s 50 Hudson Yards
Russ & Daughters to open shop at Related’s 50 Hudson Yards
arrow_forward_ios

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

Loading...