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Conrad Black in more hot water over Real Estate Deal
03/04/06
Conrad Black in more hot water over Real Estate Deal
Mar 4, 2006 - Linknet Real Estate News - According to a Reuters story, Conrad Black is being sued by Sotheby's International Realty Inc. for failing to pay the commission on the sale of his multi-million-dollar Park Avenue apartment.
Sotheby's claim they had a contract to sell the apartment, but have not been paid the commission on the $10.5 million sale finalized last October. That commission amounts to $557,000.
Most of the money from the sale was grabbed by the FBI. They moved in at the time of closing and seized $9 million claiming it was part of the alleged fraud scheme Black is being prosecuted for. Another $1 million went to pay taxes.
Rick Hendershot publishes Linknet News | Commercial Loans and Commercial Mortgages | Kitchener Ontario Real Estate
Article Source: http://www.click-partners.com
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