Just as some folks are cheering up about the situation at One Madison Park, the building might have a new rival for lawsuits and general craziness uptown at 1055 Park Avenue. The glassy sliver building recently sold out, but given that major price cuts and a judge's order were required to get there, it was silly of us to assume that would be the last word out of the building. Here now?drumroll please?a lawsuit!
The Real Deal explains that real estate executive Drew Greenwald has sued 1055 Park's developer, Trevor Davis, claiming that Davis reneged on an agreement to sell him a $5 million apartment. A few days after Greenwald signed the purchase agreement, he alleges, Davis called him to say he'd made a deal for the apartment with another buyer. The wrinkle: Greenwald's lawyers spoke in support of Davis during his personal bankruptcy case. You do hate to see that, but we think One Mad Park still wins, since that building's lawsuits were over free condos rather than $5M ones.
· Real estate exec sues Davis' 1055 Park [Real Deal]
· 1055 Park Avenue coverage [Curbed]