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One Madison Park Lawsuits Allege All Sorts of Mean Things

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For those keeping score at home, the number of lawsuits filed against the developers of One Madison Park has risen to "at least six," The Real Deal reports. And one of the latest, a $1.5 million fraud suit filed by former Yankees/Nets Chairman Harvey Schiller, sheds some light on the 60-story symbol-of-the-boom's alleged contract-flipping shenanigans. Schiller says he put down a 10% deposit in 2007 to buy apartments 45A and 45B for $7.15 million. In January 2009 the Schillers claim the developers got another buyer to bid (higher, we assume) on the apartments, and the Schillers were promised a deposit refund and an additional $850,000 to terminate their contract. They agreed, but after getting the runaround on the money, the deposit was finally returned this month, but with no trace of the $850,000 payoff. The sordid headlines are piling up at One Mad Park, and we think it's finally safe to put the nail in the spinoff building's coffin. Hopefully Koolhaas cashed that check.
· One Madison Park faces even more lawsuits [Real Deal]
· One Madison Park coverage [Curbed]

One Madison Park

One Madison Park, New York, NY 10010