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Old Posted Aug 14, 2017, 11:55 PM
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chris08876 chris08876 is offline
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Join Date: Jul 2013
Location: Riverview Estates Fairway (PA)
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Eran Elhanani is suing the Israeli developer, who he says neglected to pay commission on air rights sales then fired him


From left: Boris Kuzinez, Eran Elhanani and a rendering of 262 Fifth Avenue

Quote:
Moscow’s “Golden Mile” developer Boris Kuzinez finally received his official welcome to New York City real estate: his Manhattan broker just sued him in New York State Supreme Court.

Elhanani Group’s Eran Elhanani claims he brokered Kuzinez’s purchase of two Fifth Avenue development sites and two air rights deals but was never paid for the two air rights transactions. For all of the deals, Elhanani agreed to a modest 1 percent commission rate instead of 3 percent, according to the suit. In exchange for the low cut, Elhanani says Kuzinez promised to make him the exclusive broker for the supertall luxury condominium the developer has planned for 262 Fifth Avenue. Elhanani was made director of residential sales in marketing, the suit claims.

Kuzinez, however, fired Elhanani in June 2016, but did so without paying him the remaining commission on the air rights purchases, according to court papers. Elhanani is demanding undiscounted commissions on the more than $55 million in deals he said he negotiated for Kuzinez and seeks additional damages from the court based on other unpaid work.

The suit mentions a few additional services for which Elhanani says he was never paid. Those include consulting services, such as arranging meetings with new development marketing firms and meeting with potential finance partner Goldman Sachs.

It also includes a bit about how 262 Fifth Avenue was Elhanani’s idea to begin with, a suggestion made to Kuzinez when he complained he was having a hard time finding a penthouse worth living in.
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