Plaintiff (Jeremias) alleges that he reached an oral agreement with the Toms defendants to jointly develop a property in Manhattan adjacent to defendant Gottesman's residence. Contrary to the Toms defendants' contention, the "underdevelopment fee" that they allegedly agreed to if Gottesman chose not to develop the property fully to the extent permitted was not a liquidated damages provision, since the alleged agreement gave him the option essentially to pay the joint development...
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