ML-Implode News - Buyer of Co-op at Mark Hotel Loses Suit Over $4.7 Million Deposit

Roberta Campbell balked at closing on an $18.75 million co-op apartment on the Upper East Side in 2009 after an inspection turned up what she felt were some grievous shortcomings: missing cooktop grates, shower enclosures and a microwave; unfinished floors; and a lack of heat, hot water, gas and air-conditioning.
But after a four-day nonjury trial in United States District Court in Manhattan, Judge William H. Pauley III issued a decision Monday that Ms. Campbell must forfeit her $4,687,500 down payment and pay any accrued interest and "reasonable legal fees."
...
Judge Pauley observed that lawyers on both sides "acted myopically" for "transactional lawyers in the business of closing deals" for not trying harder to salvage this one -- which led to three years of litigation, 150,000 pages of document discovery, 16 depositions and a full trial.

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Buyer of Co-op at Mark Hotel Loses Suit Over $4.7 Million Deposit