Carlton Group Says Sapir Stiffed It On $8M Refinance Fee

Law360, New York (July 24, 2012, 12:49 PM EDT) -- The brokerage unit of real estate investment banking giant The Carlton Group filed a $12.3 million breach of contract suit against The Sapir Organization in New York state court Friday for allegedly failing to pay a mortgage brokerage commission of more than $8 million.

The complaint, filed by Carlton Advisory Services Inc., claims Sapir has refused to pay the broker a commission for an $806 million refinancing in 2006 of the senior mortgage of the building Sapair owns that's located at 11 Madison Ave. in New...
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