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Fashion Retailer Threatens Buyer’s Suit over Exaggerated Claims of Square Footage

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By Zachary Kussin

March 26, 2013

David Wilkenfeld, the founder of prom and special occasion fashion retailer, is planning to file a lawsuit against [Broker] , the president of residential brokerage [Brokerage], over the sale of the penthouse at 200 Chambers Street, the New York Post reported. Wilkenfeld claims that [Broker] lied to him about the square footage of the apartment, where he signed a contract this past November.

[Brokerage] marketed the unit as a 4,700-square-foot apartment, but Wilkenfeld allegedly saw in the condominium offering plan that the home measures 4,548 square feet. The businessman acknowledged that [Broker]  pegged the difference to the inclusion of hallway space, but maintains that the unit is still 96 square feet smaller than advertised. He also claims [Broker] failed to disclose that he was simultaneously representing the buyer, which is mandated under state law.

Wilkenfeld is seeking $2.1 million, or four times [Broker] commission, as well as the difference between the $13 million sale price and the unit’s apparent value at the larger size. He is represented by Adam Leitman Bailey, of the eponymous law firm.

Wilkenfeld said that he was “pressured” to sign the sale contract, which contained the correct real estate tax figures and common charges, in a hurry during Hurricane Sandy.

[Attorney], [Brokerage] lawyer, did not respond to the Post’s request for comment. [Brokerage] officials also didn’t respond to a request seeking comment.

Read the article here

New York Post article

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