Victory for The Mark over a $4.68M lawsuit

Tuesday, 21 Aug 2012 10:36 AM

The financially struggling co-op/Hotel on the Upper East Side, The Mark, won a battle against former co-op buyer Roberta Campbell. Campbell refused to stick to the purchase agreement and did not pay the down payment of $4.68 million. The NY Times reports that the buyer found “missing cooktop grates, shower enclosures and a microwave; unfinished floors; and a lack of heat, hot water, gas and air-conditioning”. Unfortunately, this is not an early 20th century slum, so this stuff doesn’t fly. The judge ruled against her as Ms. Campbell “may have made a wise lifestyle decision to abandon her purchase at the Mark Hotel” said Judge Pauley.

Long story short: The buyer must pay the down payment of $4.68 million plus interest plus legal fees. It seems that Ms. Campbell lost lots of money but on the bright side she bought an apartment at 15 Central Park West right after abandoning The Mark. 15 Central Park West has recently increased tremendously in value. So, in the end everything may work out.

NYTimes Real Estate