Michael Besen sues partner Amit Doshi

Brokerage founder claims top exec mismanaged firm, investment properties

TRD New York /
May.May 31, 2018 01:35 PM

Michael Besen and Amit Doshi (Credit: Besen Group and Getty Images)

There’s a feud brewing at the very top of one of New York’s most active commercial firms.

Besen & Associates founder Michael Besen is suing his partner Amit Doshi for $10 million, claiming he’s mismanaged the brokerage and several investment properties they own together.

Besen alleges Doshi, executive director of the investment sales-focused brokerage, breached his fiduciary duty to the firm and half-a-dozen multifamily properties they co-own, according to a summons filed in Manhattan Supreme Court Thursday.

Neither Besen nor Doshi immediately responded to requests for comment.

Details in the filing are scarce, but Besen is asking the court to bar Doshi from accessing one of the brokerage’s operating accounts, and to detail how he used its funds. Besen is also asking the court to put their various business interests in receivership, and to compel Doshi to refinance mortgages on various properties.

Doshi, who joined Besen & Associates in 1989, a year after it was founded, is one of the top multifamily sales brokers in the city. Besen & Associates placed ninth on The Real Deal’s most recent ranking of New York’s top investment-sales firms, based on dollar volume of closed sales. It brokered $631.1 million worth of deals in 2017.


Related Articles

arrow_forward_ios
Industry City CEO Andrew Kimball with Amazon CEO Jeff Bezos (Photos via Getty; iStock; Industry City)

Real estate hits bottom as Industry City abandons plan

Real estate hits bottom as Industry City abandons plan
Burlington CEO Michael Sullivan and 2163 Tilden Avenue (Burlington via Facebook; Google Maps)

Burlington Coat Factory inks big lease in Brooklyn

Burlington Coat Factory inks big lease in Brooklyn
Carmel Partners CEO Ron Zeff (JLL)

Carmel Partners sells Norwalk apartment complex valued at $157M

Carmel Partners sells Norwalk apartment complex valued at $157M
From left: 180 West 81st Street in Upper West Side, 15-30 130th Street in College Point; 5002 13th Avenue in Borough Park (Google Maps)

Manhattan sees first September i-sale with UWS mixed-use building

Manhattan sees first September i-sale with UWS mixed-use building
Knotel CEO Amol Sarva and Sprinklr CEO Ragy Thomas with 29 West 35th Street (Sarva via Sasha Maslov; Getty; Google Maps)

Manhattan landlords sue Knotel, Sprinklr for missing rent

Manhattan landlords sue Knotel, Sprinklr for missing rent
(iStock)

Is winter coming? Real estate stocks dragged down by 4th week of market decline

Is winter coming? Real estate stocks dragged down by 4th week of market decline
From left: Michael Fuchs, Aby Rosen, Brandon Singer and Michael Cody (Getty, iStock)

Aby Rosen, Michael Fuchs back new retail brokerage

Aby Rosen, Michael Fuchs back new retail brokerage
Companies are relying on surveys and other data points to determine who will come back to offices first. (iStock)

How do companies decide who should return to offices first? It’s tricky

How do companies decide who should return to offices first? It’s tricky
arrow_forward_ios

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

Loading...