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Farmer sues Jamestown Properties for allegedly skipping finder’s fees – Trade Observer

New York author and farmer sued Jamestown Properties and its president Michael Phillips for allegedly skipping a $1.61 million finder’s fee for two Greenwich Village apartment buildings he found.

Nick Voulgaristhe celebrity favorite owner Kerber’s Farm in Long Island, claims that he warned Phillips that the buildings of 801 and 803 Greenwich Street were for sale. He wants Jamestown to pay the fees or give him a 10% stake, according to a lawsuit filed in New York County Supreme Court Thursday.

Jamestown and attorneys for Voulgaris did not immediately respond to requests for comment.

Voulgaris, who lives near the properties, says that after befriending the ex-wife of one of the building’s co-owners, he learned the buildings were for sale through a forced auction thanks to a dispute between its owners.

Since Voulgaris lacked the money to buy the buildings – which have a total of 10 residential apartments and two retail storefronts – he approached Phillips as a co-investor in May 2021.

The two met at the French restaurant Pastis at the end of May to discuss the acquisition and then tour nearby buildings, according to the lawsuit. Voulgaris claims he continued to provide Phillips with photos, videos and information about the properties in the months that followed, and offered Phillips $1.5 million for a stake in the properties. Phillips refused the money but promised to pay Voulgaris a finder’s fee instead, according to the filing.

But after a branch of Jamestown purchased the 17,376 square foot landmark buildings for $16.1 million in December 2021, Phillips reportedly refused to pay and said Voulgaris failed to bring him the deal, according to the filing. Voulgaris claims Phillips intentionally tricked him into a “plan” to let Jamestown grab the properties “at below-market prices and without competition” from Voulgaris or other investors, the lawsuit said.

It is unclear what Jamestown’s plans are for the buildings, which were described as a potential site for luxury residential development in marketing materials. Jamestown did not apply for any permits from the city.

Voulgaris’ lawsuit is the second filed against Jamestown in the past two months after The Durst Organization continued Jamestown in August claiming that the scaffolding put in place during construction at A Times Square cuts too much into the pedestrian zone and extends into neighboring Durst property at 151 West 42nd StreetBisnow reported.

Celia Young can be contacted at [email protected].