NY Broker Can Take Cut Even If Lease Deal Fails, Judge Says

Law360, New York (July 19, 2013, 8:28 PM EDT) -- A New York judge has rebuffed real estate company 5 Hanover LLC's efforts to avoid paying a commission to broker Optimal Spaces Inc. for a lease deal that fell through, saying New York law provides that Hanover must still pay a commission because the broker found a prospective tenant for its property. 

In an order released Friday, Judge Barbara Jaffe rejected Hanover's motion for summary judgment seeking to release it from the obligation to pay Optimal a commission for finding a tenant for one of its...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.