Archstone Hit With $400M Suit Over Manhattan Property Buy

Law360, New York (February 5, 2013, 8:46 PM EST) -- Archstone Inc. and its affiliates were hit with a $400 million lawsuit Monday by a real estate broker claiming they tip-toed behind it to purchase an Upper East Side Manhattan property the defendants allegedly assured the broker they would not independently pursue, knowing it was eyeing the property.

Blue Rock Property LLC claimed it had approached the Archstone defendants in 2007 to seek debt financing for its potential purchase of the property at 303 E. 83rd St., a property the broker claimed had not been publicly...
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