- Last Updated: 1:06 PM, June 27, 2012
- Posted: 2:44 AM, June 27, 2012
A state appeals court has reinstated a hedge-fund manager’s big-bucks lawsuit against The Plaza charging that the “opulent” $31 million penthouse he thought he was getting was more like a dark attic.
The honcho, identified only by the corporate name Plaza PH 2001, claims the storied Fifth Avenue hotel-turned-condo duped him into buying the spacious pad with promises of “a large, light and airy expanse of open living space with floor-to-ceiling, 11-foot-high windows providing expansive views of Central Park,” and an “open, light kitchen space with four large windows.”
What he got instead was a living room “broken up by several large columns that also blocked the view, with small, 3-foot-tall windows beginning three feet from the floor and ending at the six-foot line.”
The buyer backed out of the deal, but the developers, Plaza Residential Owner LP, refused to refund his $6 million deposit. The buyer filed suit, but a judge threw it out.
The state Appellate Divisiion reinstated the suit yesterday, citing another clause that said the exec could back out if there were “material alterations” to the apartment without notifying the buyer.
The buyer’s lawyer, David Scharf, said, “We’re very gratified by the decision.”