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Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

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Tuesday, October 9, 2012

Lawsuit Involving Fifth Avenue Penthouse

Court FightThe owner of a Fifth Avenue Penthouse in Manhattan, the estate of Monique Uzielli, is trying to sell the penthouse but has encountered obstacles that is preventing the sale, mostly caused by the efforts of one co-op board. As a result, the owner has filed suit against the co-op board accusing the board's president, Maureen Klinsky, of interfering with the sale to secure a price below market value on the penthouse. The suit alleged that Klinsky wanted to purchase the penthouse but did not want to purchase the property at full value.

The problem started when the estate refused to sell to Klinsky. Following the attempted purchase, the co-op board tried to gain control of the wrap-around terrace. If the owner were to surrender the exclusive right to the terrace the other residents could gain access of the "green roof." The problem escalated until the estate filed suit against the co-op board.

See Robert Gearty, Sale of $27.5 Million Fifth Ave. Penthouse Snarled in Lawsuit, New York Daily News, Sept. 28, 2012.

Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.

http://lawprofessors.typepad.com/trusts_estates_prof/2012/10/lawsuit-involving-fifth-avenue-penthouse.html

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