Bobby Fletcher on hook for $3M in failed Dakota discrimination suit

Lawyers for the historic co-op want to be paid for six years of litigation

TRD New York /
May.May 05, 2017 08:45 AM

Alphonse “Buddy” Fletcher and the Dakota (Credit: Getty Images and CityRealty)

Cash-strapped hedge funder Alphonse “Buddy” Fletcher could be on the hook for $3 million in fees related to his six-year discrimination suit against the board of the famed Dakota apartment building.

Lawyers for the historic Upper West Side co-op — home to Yoko Ono and other celebrities — have asked a judge to award them $3 million in fees for litigating the suit, which was dismissed in 2015.

The building’s insurance company has already paid out $4.6 million, according to court papers cited by the New York Post.

Fletcher claimed the famously-selective co-op board discriminated against him when it refused to sell him another unit at The Upper West Side Building On West 72nd Street.

A judge dismissed the discrimination suit in 2015, saying his weak financial position was reason enough to be turned down. Fletcher’s fund, Fletcher International, went belly-up in 2012.

Last year, Fletcher agreed to pay the co-op $122,000 to allow his mother to remain in her apartment. Fletcher used a trust to buy the Dakota pad for his mom in 2002, but reportedly was unable to keep up with payments after his hedge fund fell apart.  [NYP]E.B. Solomont


Related Articles

arrow_forward_ios
Zillow CEO Rich Barton (Credit: iStock)

Zillow and Opendoor aren’t making much on home-flipping

This week, the State Department of Taxation and Finance issued a new memo that notably made no mention of condos. (Credit: iStock)

Regulators quietly change stance on condos in LLC law

Realogy CEO Ryan Schneider (Credit: iStock)

Realogy’s plan to stop the iBuyers from gaining a foothold in Chicago

Daily Digest Thursday

Worker killed at Lam Group construction site, Uber signs WTC lease: Daily digest

Developers are offering to pay the increased mansion and transfer taxes to give them an edge in a difficult market. (Credit: iStock)

Amid slow sales, developers give buyers a break on mansion taxes

Triplemint’s David Walker and John Scipione with Hoboken, New Jersey (Credit: iStock)

Triplemint expands to New Jersey

Brokerage firms are strategizing ways to make up losses after the cost of application fees was capped at $20. (Credit: iStock)

Brokerages on rental application fee cap: “It hurts”

Alex Rodriguez (Photos by Guerin Blask)

A-Rod is coming for NYC and SoFla real estate

arrow_forward_ios