After settlement, Vavilov still buys Plaza unit

Andrei Vavilov, the Russian financier who sued Plaza developer Elad Properties over alleged fraud and a breach of contract claims, is reportedly living in the Plaza. Vavilov and Elad Properties reached a settlement last week. According to the Observer, Vavilov did not receive his $10.7 million deposit back in the settlement, but swapped it for the smaller penthouse he was going to buy. According to city records, he bought the penthouse under the name Hayling Island Inc. for just over $11 million, a discount from the original $14 million he was going to spend on it. In his lawsuit against Elad, Vavilov said the penthouses he bought sight unseen did not offer the ceiling heights and views he expected.