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Big Developer Is Facing A $100M Lawsuit


New York developer The Moinian Group is being sued for $100M by the owners of The Atelier condo complex—which Moinian developed—on claims of illegally blocking owners from using amenities.

The owners allege that Moinian, which retains ownership of the building's common spaces, has blocked residents' access to the pool and fitness center, reserving them for residents of the developer's new high-end rental building next door, The Real Deal reports.

A Moinian spokesperson told TRD the suit is “utterly without merit” and the plaintiff has “a history of filing baseless lawsuits.”

Atelier residents have a lot to lose in terms of amenities—one $85M apartment in the building comes with a $1M yacht, two Rolls-Royce Phantoms and $2M to renovate the unit. [TRD]