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.

The Supreme Court, Appellate Division, First Department unanimously affirmed this decision on March 23, 2017.