The long-anticipated sale of the New York County Lawyers Association's headquarters in Manhattan has failed to close after the prospective buyer defaulted and didn't appear at the real estate closing, according to the bar group's leader. Now, NYCLA's plans to move to new offices are on hold.
Stephen Lessard, the group's president, told the bar's members on Tuesday that NYCLA's board of directors terminated the sale agreement "due to a default by the prospective purchaser."
In a statement to ALM late Tuesday, Terzi, represented by attorney Stuart Ball, disputed that JTRE defaulted on the purchase of 14 Vesey St. Instead, he claimed NYCLA "attempted to force a closing (in the middle of the pandemic) notwithstanding that it had not corrected [a] title defect."
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Christine Simmons
Christine Simmons writes about the New York legal community and the business of law. Email her at [email protected] and find her on Twitter @chlsimmons
