Penthosed: Now the Plaza's Developer is Suing - NBC New York

Penthosed: Now the Plaza's Developer is Suing

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    Penthosed: Now the Plaza's Developer is Suing

    The Plaza saga has taken another crazy turn. Earlier today brought word that a second penthouse buyer had filed suit against developer El-Ad for delivering a fabulously expensive apartment in the renovated landmark that was not up to snuff. That followed the very public and very bitter battle another penthouse buyer, Andrei Vavilov, kicked off with El-Ad last week over the state of his $53.5 million penthouses in the hotel/condo. Just now, a copy of another lawsuit landed in our inbox. This time around, El-Ad is suing Andrei Vavilov for defamation. The suit quotes various statements made by Vavilov's lawyer in the press regarding the alleged material changes made to the penthouses, and states...

    "These false and defamatory statements were made by Defendants, who knew such statements to be false and defamatory when made, or made them with reckless or grossly negligent disregard for whether they were true or not, solely in an attempt to escape their unconditional obligation to purchase such condominium apartments."
    And how much is El-Ad looking to win? According to the lawsuit, they estimate the damages to be "at least $36,000,000," with the correct amount to be set at trial. You know, $36 mil plus Vavilov's $10 million deposit would still be less than actually closing on the penthouses, if he chooses to go that route. He'll be $46 million lighter, but at least he won't have to look at those unappealing drainage grates.
    · Second Penthouse Buyer at Plaza Wants His Money Back [Curbed]
    · Russian Buyer Sues Plaza Over $53.5M Penthouse Mega Deal [Curbed]
    · Plaza Lawsuit Rebuttal [Curbed]