"The lawsuit accuses the developer of violating its contract with Elliman, including a term requiring it to pay the brokerage $250,000 if it was fired from the project without cause."
"Elliman claims the developer sent a letter in September notifying the brokerage it planned to remove them as the project's sales agent and enclosed a check for $125,000."
"The contract included a provision requiring the brokerage, if terminated, to provide the developer a Tail List with leads generated from their work on the project."
"The lawsuit includes allegations of breach of contract and seeks damages, including the outstanding $125,000 and attorney fees."
Douglas Elliman has filed a lawsuit against the developer of Mandarin Oriental Residences, alleging breach of contract after being ousted as the exclusive sales agent. The lawsuit claims the developer only paid half of the agreed fee and did not provide a valid reason for termination. Elliman seeks damages, including the outstanding fee and attorney fees, and argues that the developer failed to properly terminate the contract. The lawsuit also requests commissions on sales made before the contract was correctly closed.
Read at therealdeal.com
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