Anyone feel sorry for this guy?

[TenantNet]

Wall Street Journal
September 18, 2010
Luxury Home Exits Housing Court
by Josh Barbanel

Fashion designer Elie Tahari has finally moved into a three-bedroom apartment facing Central Park at 15 Central Park West, drawing the curtain on a bitter battle between the apartment's former tenant, a New York hedge-fund manager, and its owner, a member of a billionaire Asian family.

After a state Supreme Court judge refused to halt eviction proceedings in August, the tenant, Russell Abrams, the founder of Titan Capital, and his wife, Sandra, reached a settlement in housing court with their landlord, Marisa Chearavanont of Hong Kong, a daughter-in-law of Thai billionaire Dhanin Chearavanont, according to lawyers.

The Abrams moved out toward the end of August, clearing the way for Mr. Tahari to move in on Labor Day. Mr. Tahari and his broker, Rick Kelly of Prudential Douglas Elliman, had originally negotiated a lease to move in on July 1.

While Mr. Abrams was paying $20,000 a month, on the $6 million apartment, Mr. Tahari agreed to pay $30,000 a month, according to court papers.

Mr. Abrams declined to comment except to say the outcome was "very disappointing." Mr. Abrams had claimed in court documents that he signed a one-year lease but had been promised a second year by the landlord's broker.

The Abrams have moved to a co-op they owned in a West Side townhouse that they had been planning to renovate. Those plans are now on hold. "It was painful...a lot of tears were shed," said Mr. Abrams's broker, Monica Luque.

Morrell I. Berkowitz, a lawyer who represented Ms. Chearavanont in the eviction case, said it was a simple case like hundreds of others. "It was just a guy trying to hold over on a lease he wasn't entitled to," he said. "It was a wealthy guy not used to being told no."

Fifteen Central Park West­where Denzel Washington and Sting, as well as Lloyd Blankfein, the chairman of Goldman Sachs, have bought homes­has a very strict procedure for approving rentals. The condo board limits rentals to one-year terms.

When the Abrams first rented the tree-top level apartment, they wanted a two-year lease, according to court papers.

But Ms. Chearavanont's broker, Jenny Park Adam of Brown Harris Stevens, told them in an email that "we'll work out the extension" and resubmit a board application for another lease "prior to the end of the lease," according to court documents. Ms. Adam split a $36,000 commission on the rental, the court record says.

But, according to the Abrams' court papers, in the spring Ms. Adam asked the Abrams to let a friend of the owner have a look at the apartment.

Soon after that, they were told that their lease wouldn't be renewed and that the "friend" was in fact someone who wanted to rent the unit, their court papers say.

In the court papers, Mr. Abrams alleged that Ms. Adam was seeking out a new renter in order to generate a new $54,000 commission on the $30,000 a month lease. When leases are renewed, brokers generally don't earn new commissions.

When Mr. Abrams complained to the landlord, he was told that his two dogs in the apartment violated a rule barring pets in rental apartments, a rule that he said in court papers had never been enforced.

Asked about the case Friday, Ms. Adam declined to comment. In court documents, the landlord said Mr. Abrams should have known that the broker wasn't able to make a commitment on behalf of the landlord.

Brown Harris Stevens declined to comment.

Acting Supreme Court Justice O. Peter Sherwood said the email was at best an "agreement to agree" and didn't bind the owner to renew the lease.

The outcome favoring the owner was similar to thousands of other cases known as "holdover proceedings" that clog the city's housing court every year, involving landlords and tenants, with far less net worth.

While Justice Sherwood dismissed a claim against the owner of the apartment, he allowed the lawsuit to continue against the broker.

Mr. Tahari moved into the apartment on Labor Day, just days before the launch of New York's fashion week.

In June, the Taharis sold their 9,300-square-foot triplex loft at 141 Prince St. for $27.5 million that they purchased from Rupert Murdoch in 2006 for $24.675 million, according to property records.

Mr. Tahari owns a penthouse at 860 Fifth Ave. that is undergoing renovation, according to brokers.

[Emeraldstar]

[greenslade]

Oh, what ever will he do?!?!?