The plaintiff sued for damages arising from the defendants' refusal to close a real estate transaction for commercial property intended for condominium development.
Liability for breach of contract was previously determined by summary judgment.
At trial to quantify damages, the plaintiff sought disgorgement of profits or, alternatively, expectation damages including reimbursement of development expenses.
The court declined to award gain-based restitution but awarded expectation damages to make the plaintiff whole, comprising the $323,000 difference between the purchase price and the land's value on the closing date, plus 90% of the plaintiff's out-of-pocket development expenses ($1,062,901).
The defendants' counterclaim was allowed in part for admitted debts and rent up to the date of breach.
