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Scott E. Mollen Scott E. Mollen

Condominiums—Board Entitled to Exercise Right of First Refusal—Price Allegedly Too Low—Breach of Contract, Breach of Fiduciary Duties and Aiding and Abetting a Breach of Fiduciary Duty and Tortious Interference with Contract Claims Dismissed—Co-ops v. Condos

A plaintiff purchaser of a condominium apartment (unit) commenced an action, seeking damages against the seller, a real estate broker, the condominium and its board of Managers (board) (collectively, “defendants”). The defendants, except for the broker, moved to dismiss the complaint and to cancel a notice of pendency and for sanctions against the plaintiff. The plaintiff moved for partial summary judgment on his breach of contract and tortious interference claims.

The unit had been publicly listed for $949,000. The plaintiff entered into a contract to purchase the unit for $850,000. The contract provided that the board had a right of first refusal (ROFR) to purchase the unit. The (ROFR) was incorporated in condominium’s by-laws. It specified that the board had 30 days to elect whether to exercise the (ROFR) after receiving notice of the sale from the seller.

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