In the wake of a series of re-sales from Plaza buyers and a lawsuit from a Russian financier who dropped $54 million on a penthouse pad he later deemed too squalid for occupancy, Plaza developers, El-Ad Properties, have countersued, accusing Russian Andrei Vavilov of defamation.
Highlights from Curbed: 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.
Full countersuit below.
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