Uzan v. 845 UN Ltd. Partnership
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Mazzarelli, J.
This appeal presents the issue of whether plaintiffs, who defaulted on the purchase of four luxury condominium units, have forfeited their 25% down payments as a matter of law. Because the governing purchase agreements were a product of lengthy negotiation between parties of equal bargaining power, all represented by counsel, there was no evidence of overreaching, and upon consideration of the fact that a 25% down payment is common usage in the new construction luxury condominium market in New York City, we hold that upon their default and failure to cure,…
2Cases cited13 opinions
- Maxton Builders, Inc. v. Lo GalboNew York Court of Appeals · 1986
- Lawrence v. . MillerNew York Court of Appeals · 1881
- Chateau D' If Corp. v. City of New YorkAppellate Division of the Supreme Court of the State of New York · 1996
- Cipriano v. Glen Cove Lodge 1458New York Court of Appeals · 2003
- Motorola Credit Corp. v. UzanDistrict Court, S.D. New York · 2003
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- Regal Realty Services, LLC v. 2590 Frisby, LLCAppellate Division of the Supreme Court of the State of New York · 2009
- Micciche v. Homes by Timbers, Inc.Appellate Division of the Supreme Court of the State of New York · 2005
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