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Client Lost $985,000 Deposit on Purchase of Manhattan Condo--Attorney Held Liable

On July 31, 2017 Manhattan Supreme Court Justice Billings ruled that an attorney was negligent for "failure to advise plaintiff of the applicable statute and regulation (related to deposits on the sale of condos)". The buyer had made a deposit of $985,000 on the purchase of a condo and as per the real estate contract paid it to the condominium unit sponsor. The deal never closed because the buyer invoked its right to rescind. The buyer couldn't get its deposit back from the seller.

The attorney defended this claim and moved to dismiss arguing that the statute and regulations were inapplicable. Justice Billings disagreed and found that the attorney departed from accepted legal standards in failing to advise the client of the protections afforded under state law. She also held that: 1) the attorney had allowed his client to pay the deposit directly to the seller instead of an escrow agent in violation of state law; and, 2)  had the seller made the deposit directly to an escrow agent instead of the seller as required by law, the seller would have recovered the money once it rescinded the sales agreement.

Riviera Property Holdings, Sup. Ct., NY County, 104953/2011

Ronald C. Burke, Esq

Trial Attorney with 30+ Years of Experience Attorney Ronald C. Burke, Esq. has more than 30 years of experience and has focused his career on representing clients in cases involving personal injury, medical malpractice and legal malpractice. He is a seasoned trial lawyer and has won many seven-figure settlements and verdicts for his clients over the years, including many case victories listed among the largest in the history of the New York State. He has been featured in the news and is a regular lecturer for the New York County Lawyers Association, as well as having lectured before the New York State Bar Association. Ron is also an attorney with Kelner & Kelner, a New York personal injury law firm. Awards and Accolades Mr. Burke's awards and accolades are many. Among them, he has been included in New York Super Lawyers® each year since 2010, and he has received the highest-possible AV® Rating from Martindale-Hubbell®. Verdict Search, a part of the New York Law Journal, frequently recognizes his notable successes after winning some of the highest settlements and verdicts in past years. He was also featured in their list of the "Top New York Verdicts of 2011" and "Top New York Settlements of 2012." He is a member of the New York State Bar Association and is licensed to practice law in the U.S. District Court for the Southern and Eastern Districts of New York, as well as before the United States Supreme Court. When Attorney Burke is not handling legal malpractice cases, he is highly involved in the local community. He is a member of the Village of Rockville Centre Volunteer Fire Department, has served on the local school board and as Chairman of the local Zoning Board. Learn more about Attorney Burke and how he can skillfully handle your malpractice case by contacting the Law Offices of Ronald C. Burke, Esq. right away to schedule your complimentary case evaluation. Our firm is here to help! Contact a New York Legal Malpractice Attorney Our firm provides each client's case with thorough preparation and aggressive representation, ensuring that you win the best possible results for your case whether it is settled or goes to trial. As a seasoned trial lawyer, Mr. Burke can provide the strong and relentless representation you need to establish negligence in a legal malpractice case and to recover any damages you may have suffered. Our firm can recover compensation for pre-trial and trial malpractice, violations of fee arrangements, loss of income, pain and suffering, and much more. Contact us today!

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