Plaza, penthouse buyer reach agreement

The Plaza and Andrei Vavilov,
the Russian financier who sued Plaza developer Elad Properties over alleged fraud
and a breach of contract claims, have reached a settlement. According
to court records, the two penthouses Vavilov bought did not offer the ceiling
heights and views he expected when he bought the units sight unseen.
Elad fired back with a countersuit, saying Vavilov had made “defamatory
and untrue” statements about the company. Vavilov’s lawyer did not provide
details about the resolution, but stressed it was favorable. A
spokesperson representing Elad called the resolution amicable and “on
terms acceptable to both parties.”