Judge to Blavatnik: You should know what a contract is

Court tosses music mogul’s suit over verbal $79M deal for UES townhouse

TRD New York /
Mar.March 02, 2017 11:50 AM

Does a phone call constitute a binding sales agreement? Music mogul Len Blavatnik thinks so, but a New York judge begs to differ and tossed his lawsuit over an Upper East Side townhouse deal.

Blavatnik sued art heir David Wildenstein, claiming he reneged on a verbal promise to sell him his family’s Upper East Side 20,500-square-foot townhouse at 19 East 64th Street for $79 million.  The property sold to another bidder for $81 million.

“Your extraordinarily sophisticated and well-heeled client… relied on an oral telephone conversation,” Judge Shirley Werner Kornreich told Blavatnik’s attorneys. “He clearly knows that is not sufficient for a deal.”

According to the New York Post, Blavatnik plans to appeal Kornreich’s decision.

Back in 2014, Qatar’s government signed a contract to buy the townhouse for $90 million, but ultimately walked away from the deal.  [NYP]Konrad Putzier 


Related Articles

arrow_forward_ios
Gov. Andrew Cuomo has given the go-ahead to reopen schools for in-person learning statewide (Getty; iStock)

School’s back on. Will the NYC resi market follow suit?

School’s back on. Will the NYC resi market follow suit?
New York’s real estate market is becoming two different stories: Manhattan, where deals are falling — and the suburbs, where demand is spiking. (iStock, Unsplash)

Manhattan is cold, the suburbs and Brooklyn are hot: Here’s what the resi market looked like in July

Manhattan is cold, the suburbs and Brooklyn are hot: Here’s what the resi market looked like in July
Home sale price declines are expected for July, after a recent bump, according to a CoreLogic report. (iStock)

Home sale prices got a bump, but a drop is coming: Report

Home sale prices got a bump, but a drop is coming: Report
(Images courtesy of Victor Group)

The Getty condo chops prices up to 53%

The Getty condo chops prices up to 53%
Michael Price and 20 East 78th Street (Getty, Google Maps)

Billionaire’s townhouse sale is a window into pandemic-era luxury deals

Billionaire’s townhouse sale is a window into pandemic-era luxury deals
442 Union Street and 257 Berry Street (Google Maps)

Brooklyn’s luxury market reaches new pandemic high

Brooklyn’s luxury market reaches new pandemic high
Marwan Kheireddine (inset), Jennifer Lawrence and 400 East 67th Street (Getty, Compass, BDL Accelerate)

Jennifer Lawrence’s Upper East Side PH sold at 37% loss

Jennifer Lawrence’s Upper East Side PH sold at 37% loss
Senate Minority Leader Chuck Schumer and Senate Majority Leader Mitch McConnell (Schumer by Tasos Katopodis/Getty Images; McConnell by Ting Shen/Xinhua via Getty)

Schumer v. McConnell on SALT: Who’s gonna give?

Schumer v. McConnell on SALT: Who’s gonna give?
arrow_forward_ios

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

Loading...