Plaintiff Nelson Baker alleges that companies BLR Madison LLC and National Realty and Development Corp. withheld his $3.2 million distribution in escrow and now won’t release it, the complaint states.
December 21, 2023 at 09:48 AM
2 minute read
A realty corporation which sold a Madison Avenue property for close to $200 million allegedly withheld a portion of the sale proceeds from an interest holder to cover federal taxes, yet never paid them, according to a new lawsuit.
Plaintiff Nelson Baker alleges that companies BLR Madison LLC and National Realty and Development Corp. withheld his $3.2 million distribution in escrow and now won’t release it, according to the complaint.
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