SMA Equities’ $9.5 million lawsuit against architect Gene Kaufman over the sale of a Nolita development site has been dismissed.
The Great Neck, N.Y.-based firm sued the architect and his firm, Gene Kaufman Architect , in September 2015 over its sales of 152 Elizabeth Street, located between Broome and Kenmare streets, alleging Kaufman told SMA the site was zoned for a 14,000-square-foot building — when it could actually be 6,000 square feet larger.
But a New York State Supreme Court disageed.
“The record, however, demonstrates that no such opinion was provided,” the judge wrote Thursday, according to the Commercial Observer.
In 2014, SMA sold 152 Elizabeth to Sumaida + Khurana for $21 million. In its suit, SMA alleged Kaufman “negligently misrepresented” the square footage, resulting in a lower sales price.
Sumaida + Khurana have since tapped Japanese architect Tadao Ando to design the seven-unit boutique condominium at the site, where full-floor condos start at $15 million. Compass is handling the sales and marketing. [CO] — E.B. Solomont