A pair of $53.5 million New York Plaza penthouses were sold to Russian hedge-fund manager Andrei Vavilov–which would have made it the second-highest residential sale in New York City history.
Andrei Vavilov, though, is one very upset buyer. He and his wife, Russian actress Maryana Tsaregradskaya, are outraged with low 9 foot ceilings, an unexpected and massive column in the living room, and an exterior drainage grate that blocks the view of Central Park from the middle floor.
He had been promised the epitome of luxury, but was instead, he says, was given an “attic-like space.”
Attorneys for the buyer have reportedly filed a $31 million lawsuit against the developer and its selling agent Stribling.
It is unclear to me whether the transaction has actually closed. The story (see link below) does not make that clear. There is a $10.6 million deposit from the buyer at stake, and real estate attorneys handle closings in New York. Unlike most California real estate transactions, I am told it can be very difficult for New York buyers to reclaim their deposits.
Which leads me to wonder: Is the lawsuit and resultant publicity about the buyer’s recovery of a $10.6 million deposit–or actual defects in the real estate delivered?
