Corcoran Trumped Out of $1.3 Million

A state judge threw out Barbara Corcoran’s lawsuit Monday that tried to collect $1.3 million in commissions for introducing him to the investors who salvaged his Riverside South project.

In the suit, Corcoran claimed that the sale of the high rises to Extell and the Carlyle Group last year triggered the payment of the outstanding portion of the $4 million commission that Trump had promised. But Judge Richard Lowe III wrote tha, according to their contract, the commission was only due when Trump sold his share in the Hudson Waterfront partnership, and not when the partnership sold off the land.

In the meantime, Trump will pay 2.5 percent of the distributions received from his investment, and, unless an appeal changes anything, Corcoran will pay Trump his legal fees.

Matthew Schuerman

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