News

September 6, 2016 News

Morrison Cohen Obtains Summary Judgment for American Reality Capital in Dispute over Brokerage Commission

September 6, 2016 - Morrison Cohen successfully obtained a summary judgment dismissal for American Realty Capital III, LLC and American Realty Capital New York Recovery Reit, Inc. (collectively “ARC”) in a dispute with RMB Properties, LLC (“RMB”) seeking a brokerage commission. 

The Supreme Court of the State of New York granted ARC’s motion for summary judgment on August 30, 2016, finding that RMB was not entitled to a commission in the sale of a property located at 50 Varick Street in Manhattan as the initial negotiation to purchase the property was unsuccessful.