clock menu more-arrow no yes

Filed under:

Latest One Madison Park Plaintiff Wants His Free Condos

New, 11 comments

The tally of lawsuits filed against One Madison Park's developers has now hit lucky number seven, the Post reports. And the latest one is a doozy! While earlier plaintiffs sued for deposit refunds and contract termination payoffs, now branding maestro David Lipman (who has also worked with Mercedes-Benz and Burberry) is claiming he was never paid for the branding advice he gave One Mad Park's developers. How much is he owed? He says the developers promised to pay him $7 million?in condos! Specifically, apartments 15A and 15B (which are currently listed on StreetEasy as in contract). With this lawsuit combined with the guy who said the developers promised to sell him unit 7D for $1,000, it really does seem like they're giving 'em away.

Meanwhile, a building tipster brings word of more alleged shenanigans involving contract-flipping attempts back when the market was at its peak.
The tipster reports:

New sale recorded for the 52nd floor. It's a high, full floor (3,310 sf). The price was $5M. That comes to about $1,500/sf.

This sale was listed as one of the "sales to third parties" in Amendment 15 at $10M.

The entity shown as the new owner on this transaction (in ACRIS) is different than the one disclosed in Amendment 15.

There is no indication that the floor has been divided -- and the documents make reference to a share of condominium ownership that is consistent with a full floor unit.

There is no mortgage.

Fire sale?

There's a question we can't definitively answer, but for the curious, here's the StreetEasy page for the unit in question.
· Developers sued for $25M [NYP]
· One Madison Park [StreetEasy]
· One Madison Park coverage [Curbed]

One Madison Park

One Madison Park, New York, NY 10010

23 East 22nd Street

23 East 22nd Street, New York, NY