Commission Feud over Balazs Lower Manhattan Purchase

Previous Post£230,000 Dress to be Displayed at Harrods’ Crystal Christmas Event
Next PostFat Transfer Controversy: Fresh or Frozen?

An independent Manhattan broker who says he facilitated hotel mogul Andre Balazs’ recent Lower Manhattan purchase-in-progress, filed a lawsuit in the New York State Supreme Court saying he was slighted by the sellers.  Neil Gronowetter, the broker and chairman of Multifamily Investor, claims credit for introducing Balazs to Bonjour Capital, the sellers of Balazs property of interest: 5 Beekman Street. Gronowetter made the aforementioned introduction in July 2010 and was verbally promised 1 percent commission by Bounjour at that time, according to the lawsuit.

According to records, Balazs is under contract to buy the 128,000 square-foot building.  It was originally built in 1883 and purchased by Bonjour, with partner the Chetrit Group in 2008 for $61 million.  Gornowetter, in court papers, acknowledged that he did not carefully read a document that he believed to be a brokerage contract and turned out to be a sales document.  However, he maintains that he is owed commission.

Source: The Real Deal

Like Haute Living New York? Join our Facebook page or follow us on Twitter @HauteLivingNY. Want Haute Living New York delivered to your in box once a week? Sign up for our newsletter.

connect with haute living National