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60 Further Lane: Big Deals Mean Big Lawsuits

The saga of 60 Further Lane, East Hampton, which made headlines last spring as the priciest real estate sale ever, continues. The 18-acre showplace sold for a recordbreaking $147 million to Barry Rosenstein, head of activist hedge fund Jana Partners. So far so good, and then, the lawsuits began.

Last July, Corcoran filed suit against the sellers and the buyer, claiming it was cut out of the deal. The brokerage says they were hired as the exclusive agents for the deal and then were cheated out of their fee. Corcoran is seeking up to $8.82M in lost commission and damages.

Buyer Rosenstein was dismissed from the Corcoran suit, but now he is suing the sellers, who inherited from the property's previous deceased owners, partners Christopher Browne and Andrew Gordon. He says that the sellers misrepresented that they had no agreements with brokers, despite having directed some of his inquiries to Corcoran's Tim Davis. He wants to recover $250K he had to spend defending himself from the Corcoran suit; in addition he is annoyed that the sellers disclosed his name as the buyer, which resulted in negative publicity. Stay tuned.
· Buyer of $147M Hamptons estate says seller lied about Corcoran's involvement [TRD]
· All posts about 60 Further Lane [CH]