Palm Beach agent takes Kolter to court over Water Club commissions

Miami /
Feb.February 17, 2017 02:15 PM

A former real estate agent is alleging that the Kolter Group has wrongfully taken back commissions she earned while selling condos at its Water Club development in North Palm Beach.

High preconstruction sales prompted Kolter to build a third tower just south of the two existing ones at the development along the Intracoastal Waterway, but the third building would block the water views of the some of the second tower’s units. So Kolter, a West Palm Beach-based developer, allowed preconstruction buyers in the second tower to cancel their contracts and recoup their down payments, the Palm Beach Post reported.

Former agent Lori Ann Civitillo filed a 21-page lawsuit earlier this month in Palm Beach County Circuit Court, claiming that she had an agreement with Kolter Group LLC and Kolter Tower Realty LLC to be paid half her commission at the time a Water Club condo unit went under contract and the other half when the sale closed, according to the Post.

The lawsuit alleges that her contract stated commissions weren’t contingent on the roughly $1 million contracts closing at the Water Club, at 1280 U.S. Highway 1, and would not be required to repay commissions on deals that did not go through, the Post reported.

Following Kolter’s decision to allow buyers with obstructed views to back out of contracts, Civitillo alleges the developer dipped into her commissions on other deals to make up for the money it had paid her on the canceled contracts. The lawsuit referred to the move as “self-help restitution.”

In total, Civitillo said she sold about $50 million worth of condominium contracts in the second tower. [Palm Beach Post] – Gabrielle Paluch


Related Articles

arrow_forward_ios
Shahla and Hushang Ansary with Sun and Surf One Hundred building in Palm Beach (Getty, Google Maps)

Billionaire’s wife pays $14M for Palm Beach penthouse and cabana

Billionaire’s wife pays $14M for Palm Beach penthouse and cabana
Widow of late San Francisco Giants owner buys Palm Beach home

Widow of late San Francisco Giants owner buys Palm Beach home

Widow of late San Francisco Giants owner buys Palm Beach home
8 Windsor Court and Jonathan Sack (Google Maps)

Attorney buys Palm Beach mansion for $13M

Attorney buys Palm Beach mansion for $13M
Lawrence Kaplan and Bart Halpern with 2299 Ibis Isle Road East, Palm Beach (Getty, Corcoran) 

Textile designer pays $7M for waterfront Palm Beach home

Textile designer pays $7M for waterfront Palm Beach home
Scott and Kimberly Goodwin and 232 Bahama Lane, Palm Beach (Patrick McMullan/Getty, Corcoran)

Hedge funder buys Palm Beach spec home for nearly $6M

Hedge funder buys Palm Beach spec home for nearly $6M
249 Seabreeze Ave, Palm Beach

Driving away: Taxi magnate sells Palm Beach home for $6M

Driving away: Taxi magnate sells Palm Beach home for $6M
South Florida’s residential markets bounced back in the third quarter

South Florida’s residential sales rise in Q3, led by surge in Palm Beach County

South Florida’s residential sales rise in Q3, led by surge in Palm Beach County
Caryn Zucker and 167 Seabreeze Ave (Credit: Google Maps)

This just in: CNN chief’s ex-wife pays $8M for Palm Beach home

This just in: CNN chief’s ex-wife pays $8M for Palm Beach home
arrow_forward_ios

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

Loading...