The plaintiff seller brought an action against the defendant buyer for forfeiture of a $250,000 deposit and damages after a failed commercial real estate transaction.
The buyer refused to close, alleging the seller failed to rectify an illegal third-floor residential conversion and a resulting city work order.
The buyer also brought a third-party claim against its real estate lawyer for professional negligence.
The Superior Court of Justice found that the buyer intentionally orchestrated the work order for leverage and failed to properly requisition the issue within the contractual deadline.
The court held the transaction was not unconscionable, denied relief from forfeiture, awarded the seller the deposit plus $6,645 in out-of-pocket damages, and dismissed the third-party claim against the lawyer, finding he met the standard of a reasonably prudent solicitor.