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
(Illustration by Dave Murray)

The squeeze on resi brokerages is forcing consolidation, cooperation

From left: 55 East 74th Street, 9 East 82nd Street, 1 Central Park South, 78 Irving Place with Adam Neumann and 111 West 57th Street (Credit: StreetEasy, Wikipedia, Getty Images)

Adam Neumann’s triplex, Russians’ Plaza pad were priciest homes listed last week

3 East 69th Street and 252 East 57th Street 

With asking prices in freefall, luxury market sees strong week

Keller Williams CEO Gary Keller

Keller Williams will cut off agents who leave

Wall Street bonus season is the stuff home sellers’ dreams, as they picture eager buyers armed with hefty bonus checks and willing to pay top price. But in a buyer’s market that vision may be more like a mirage (Credit: iStock)

Here’s what Wall Street bonus season means for real estate this year

Adam Neumann and 78 Irving Place (Credit: Getty Images and StreetEasy)

Adam Neumann is asking $37M for Gramercy Park triplex

(Credit: iStock)

Residential rents continue upward march in Manhattan, Brooklyn and Queens

Redfin's Glenn Kelman (Credit: iStock)

“It’s on like Donkey Kong”: Redfin scrambling to keep up with iBuyer demand

arrow_forward_ios
Loading...