Broker's Suit Over $112M SoHo Property Deal Survives

Law360, New York (March 26, 2014, 7:33 PM EDT) -- A New York judge on Tuesday refused to dismiss a broker's suit seeking a commission on a proposed $112 million sale of a SoHo building to Vornado Realty Trust that never materialized, saying the deal had been far enough along for the broker to sustain its suit.

Commercial brokerage firm Azad Property Group LLC claims that Willspring Holdings LLC and affiliate Willett Cos. LLC breached an implied contract when they failed to pay Azad a verbally agreed-upon 1.25 percent commission for due diligence done on the...
To view the full article, register now.