{"id":8655,"date":"2008-09-19T00:00:00","date_gmt":"2008-09-19T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"suits-fly-at-the-plaza","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/09\/2008\/suits-fly-at-the-plaza.html","title":{"rendered":"Suits Fly at the Plaza"},"content":{"rendered":"<p> New York Post &#8211; The developers of the famed landmark are fighting back following two multimillion-dollar lawsuits filed against them by separate penthouse buyers within the past two weeks. <\/p>\n<p> Developer El-Ad Properties, which renovated the 101-year-old building to include pricey condos, is countersuing Russian hedge-fund manager Andrei Vavilov for damages totaling $36 million after he claimed he was the victim of a bait-and-switch. <\/p>\n<p> Vavilov, 51, who bought adjoining duplex and triplex apartments for $53.5 million, filed a lawsuit against El-Ad and Stribling &amp; Associates brokers for $30 million plus return of his $10.7 million deposit. <\/p>\n<p> On Wednesday, the buyer of a duplex next to Vavilov&#8217;s two units &#8211; also said to be a hedge-fund manager &#8211; filed a similar suit, for $6.5 million. <\/p>\n<p>  In the countersuit filed in Manhattan Supreme Court, El-Ad accuses Vavilov of libel and filing a &quot;sham lawsuit.&quot; <\/p>\n<p><strong><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.nypost.com\/seven\/09192008\/news\/regionalnews\/suits_fly_at_the_plaza_129821.htm\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York Post &#8211; The developers of the famed landmark are fighting back following two multimillion-dollar lawsuits filed against them by separate penthouse buyers within the past two weeks. Developer El-Ad Properties, which renovated the 101-year-old building to include pricey [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[2233,2745,2747,148,81,2746,1546,620,358],"class_list":["post-8655","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-court-decision","tag-dollar-fund","tag-late-september","tag-new-york-state","tag-newcastle","tag-securities-laws","tag-university-of-texas","tag-upfront","tag-value-investors"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8655","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=8655"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8655\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=8655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=8655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=8655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}