Judge Nixes $75M In Counterclaims From NYC Air Rights Row

Law360, New York (January 16, 2013, 7:20 PM EST) -- A real estate developer involved in a botched air rights sale can't blame another developer for not properly calculating the amount of air rights available because it could have easily found that information itself, a New York state judge ruled Wednesday, dismissing $75 million in counterclaims.

Maestro W. Chelsea SPE LLC has accused Pradera Realty Inc. of improperly backing out of a contract to sell Maestro $4.6 million worth of air rights for a mixed-use development near the High Line Park in Manhattan's Chelsea neighborhood, but...
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