The Wildenstein family’s valuable piece of Manhattan real estate just can’t seem to close. There was a $100m deal with the government of Qatar that fell through two years ago. Since then, the market for Manhattan townhouses has been declining.
So it’s a wonder that Len Blavatnik has had to sue the Wildenstein family for backing out of a deal to sell the place. The London Evening Standard quotes heavily from Blavatnik’s lawsuit that seems more about frustration over losing the 64th street address than having a strong case:
Mr Blavatnik, 59, already has a property on the block — a £62 million mansion on Fifth Avenue — and wanted Mr Wildenstein’s home as his offices.
According to the lawsuit filed by Access Industries, Mr Blavatnik’s company, Mr Wildenstein “unambiguously” agreed in a phone call on October 6 that Mr Blavatnik would be able to purchase the property. […]
Then on October 13, according to the lawsuit, Mr Wildenstein told Mr Blavatnick “he was not authorised to sell the property” and had to get “board approval”, apparently from 1964 Realty LLC, which is named as a co-defendant.
Billionaire sues art dynasty over £63m deal to buy New York townhouse (London Evening Standard)