Last we checked in on 80 Riverside Boulevard's twin-towered Rushmore, the attorney general had just ruled that developer Extell needed to release 41 buyers from their contracts because the developer didn't meet the promised closing date. Then there were rumblings that the developer would challenge the ruling. And it was no empty threat! In a move we can only call gutsy (because this is a family site, folks), developers Extell and Carlyle Realty Partners are now suing Attorney General Andrew Cuomo over the rescission order. They've also filed a motion for a restraining order that would block the buyer refunds, The Real Deal reports.
The argument is over a line in the condo's offering plan that promised a September 2008 closing date. The developers claim it's a typo?quickly becoming the most litigated typo ever?and the lawyers meant to write "2009." In the latest filings they've elaborated on that argument a bit. They claim the AG used evidence other than the offering plan in considering the buyers' refund demands, but did not allow the developers to do their own evidence collection or cross-examination of buyers. With more than $16 million in buyer refunds already on the line, we didn't think this thing could get any more interestingly messy, but it just did!
· Extell, Carlyle challenge Rushmore ruling [Real Deal]
· Rushmore coverage [Curbed]