Mark Zuckerberg Embroiled in Real Estate Feud With Neighbors
Mark Zuckerberg is losing friends among his Palo Alto neighbors over a property feud. Developer Mircea Voskerician took a $1.7M payment from the Facebook founder after winning the rights to land adjacent to his property, with the understanding he would not build a mansion that would loom over Zuckerberg's home. Now, Voskerician is pursuing a trial over allegations that Zuckerberg did not, as promised, connect him with the Silicon Valley A-List.
Now, Moris and Betty Korin contend that the developer pulled off a secret deal with their realtor to acquire the rights to their property and sell it to Zuckerberg, whom the Corins had hoped would buy them out. The Korises did sell their home to Voskerician for $4.8M, which they claim was well below market value. However they claim they were unaware of the subsequent $1.7M Voskerician took from Zuckerberg with the alleged stipulation he would not build a nearly 10K SF manse with prime, scintillating views into his master bedroom. The neighbors say they were only informed that Zuckerberg was the buyer in May 2014, just after Voskerician's separate suit.
Meanwhile, Zuckerberg's lawyers deny Voskerician's claims that he reneged on tech world networking intros and say the developer preyed on the young multi-billionaire's (arguably ironic) quest for privacy. A judge could determine a schedule for the Korins' suit early next week. [Bloomberg]