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Two One Madison Park Buyers Finally Get Their Deposit Back

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Among the many lawsuits at One Madison Park was this curious incident: branding maestro David Lipman alleged that the developers never paid him for his branding advice, when they had promised to pay him in two free condos. One reason Lipman might have been so upset about not getting the apartments, units 15A and 15B: it turns out he had plans to flip them, for around $6.5 million, to David and Marcia Kaplan. But when the attorney general allowed the building's buyers to take back their deposits, the Kaplans did not receive theirs. So the Kaplans took Lipman to court to get back their $622,500 deposit, which had been in escrow since October 2008. And they've now emerged from litigation victorious, their attorney, William Turkish, tells us. (Because the Kaplans were fighting over the down payment for Lipman's attempted flip, they were allowed to continue the court proceedings even after the building's bankruptcy filing.) Not only did the Kaplans get their deposit back, but they also received $117,500 in interest. The suit is over for them?and they've since purchased elsewhere in Manhattan?but Turkish tells us Lipman is still in court over his free condos.
· Latest One Madison Park Plaintiff Wants His Free Condos [Curbed]
· One Madison Park coverage [Curbed]

One Madison Park

One Madison Park, New York, NY 10010