Buyers Flipping Out Over Plaza Conditions


This morning the Post reported that as many as 25 buyers in the new Plaza Hotel are trying to sell their condos, in what Curbed calls "flipper madness." The tabloid looked into the status of those sales after Russian financier Andrew Vavilov actually sued developers to get his down payment back. (As for other prominent buyers, Tommy Hilfiger is pulling out, but James Cayne, Harry Macklowe, and Robert Kraft are staying in so far). Here are some of their complaints:

• Many clients are angry that they have not been allowed to see the properties they've purchased. Stribling brokers and El-Ad, the developers, have barred visits.
• One buyer complained that the new floors in her pad were actually "buckling," and that the "ceiling was falling."
• The lighting on the building is in need of replacement, as El-Ad bought cheap fixtures that were not weatherproof.
• Views, according to Vavilov, were not nearly as lovely as promised.

Oh no! Who will Eloise play with now?

White Elephant [NYP]
Earlier: Russian Financier Andrei Vavilov Sues Plaza Over Tiny Windows, Ugly Air Conditioners