The commonly used definition of “capital contribution” in a real estate development contract included all money contributed by the developers to the project, “whether it was predevelopment costs, acquisition costs or other costs specified” in the contract, a Commercial Division judge has held.
Ruling on a motion to dismiss, Manhattan Supreme Court Justice Saliann Scarpulla (See Profile) said in Integrated Urban Holdings v. Vornado Harlem Park, 652138/2013 that “plaintiffs attempts to alter this broad term fails.”
