DONERAIL CORP. v. 405 PARK LLC.

7703, 7704, 602108/09, 602187/09.

100 A.D.3d 131 (2012)

952 N.Y.S.2d 137

DONERAIL CORPORATION N.V., Respondent, v. 405 PARK LLC, Appellant. 405 PARK LLC, Appellant, v. DONERAIL CORPORATION N.V. et al., Respondents.

Appellate Division of the Supreme Court of New York, First Department.

October 9, 2012.


Attorney(s) appearing for the Case

Meister Seelig & Fein, LLP, New York City ( Stephen B. Meister , Kevin Fritz and Remy J. Stocks of counsel), for appellant.

Kelly Drye & Warren, LLP, New York City ( Michael C. Lynch , William C. Heck and Joel A. Hankin of counsel), for respondents.

MAZZARELLI, J.P., FRIEDMAN, CATTERSON and MANZANET-DANIELS, JJ., concur.


OPINION OF THE COURT

RICHTER, J.

In this failed real estate transaction, we are asked to decide whether the seller, Donerail Corporation N.V., is entitled to retain the earnest money deposit paid by the purchaser, 405 Park LLC, pursuant to a contract for sale of an office building in New York City. When the time-of-the-essence closing failed to occur, 405 Park initiated an action against Donerail seeking return of the deposit, alleging that Donerail had...

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