The Plaza's Big Russian Foe Has His Price: $12.5 M.

This morning's Observer reports that Andrei Vavilov, the Russian oligarch who sued the Plaza's developer to get out of his $53.5 million deal for a two-unit triplex penthouse, compromised by paying a bit more than $11 million for the smaller penthouse unit.

Mr. Vavilov has already put the 2,906-square-foot apartment back on the market, according to the Brown Harris Stevens' Web site, and he's hoping for a profit: The asking price is $12.5 million.

Famously, Mr. Vavilov's lawsuit complained viciously about the Plaza, even invoking an imaginary character: "[U]nlike in the classic Eloise series of children's books set in the Plaza Hotel, where the rooms at the Plaza Hotel embodied the height of elegance and sophistication, the same can not be said of the Penthouses. The completed Penthouses utterly fail to live up to the representations of [developer] El-Ad to Plaintiffs of superior condition, quality, and overall appearance." There were "unobstructed floor to ceiling windows"! And "lower than represented ceiling heights"! And "unappealing drainage grates which further impeded Plaintiffs' views"!  read more »

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