2nd Buyer Sues Over Multimillion Dollar Plaza Penthouse
Last week we reported that Russian billionaire Andrei Vavilov, who signed a $53.5 million contract sight unseen for an ultra-luxe penthouse at New York's famed Fifth Avenue hotel-turned-apartment building The Plaza (above), sued the developers claiming the finished product was an "attic-like" tenement. Now the Wall St. Journal reports that a second Plaza penthouse buyer has filed a claim on similar grounds, alleging fraud and misrepresentation on the part of the Plaza's developer El-Ad and its real estate agents. The buyer, who has not been identified, is demanding the return of a $6.5 million deposit plus legal fees of at least $350,000, according to the complaint filed in New York Supreme Court. In a statement, El-Ad dismissed the claims as vain attempts on the part of buyers with cold feet to "back out" of their deals.
UPDATE: El-Ad has now filed a counter-suit against Vavilov for libel, seeking $36 million in damages.