Brokers

Real estate broker alleges Rochester Tech Park owes $1M in fees

Listen to this article

A Brighton-based commercial real estate broker is yet again alleging the owner of Rochester Tech Park has failed to pay commission obligations.

Moore Corporate Real Estate, Inc. claims Tech Park Owner, LLC, a subsidiary of Brooklyn-based Tryad Group, owes $1,036,450.08 in commissions after four tenants signed lease extensions in 2023.

The allegations were made in a 16-page complaint that was filed on Tuesday in state Supreme Court in Monroe County on Tuesday. The complaint, filed by attorney Jeffrey Allen of Bond, Schoeneck & King, PLLC, is asking for a judgment awarding compensatory damages, interest, legal fees and other costs.

As exclusive broker for the sprawling tech park along state Route 531 in Gates, Moore CRE is entitled to 3.75 percent of the total value for lease extensions with tenants, the complaint states.

According to the complaint, that means Moore is due $296,147 from Pfisterer’s amended lease of May 2023; $268,973.50 from the Hammer Packaging Corp. lease of June 2023; $269,104.12 from the Maximus extension of September 2023; and $202,225.46 from the L3Harris renewal of September 2023.

The defendant did not respond to demand-for-payment letters in December and February, the complaint says.

Moore has sued Tech Park Owner two other times in an effort to secure brokerage fees allegedly not paid in a timely manner.

Complaints filed in 2019 and 2020 eventually led to a court-mediated settlement of $2.3 million in October of 2020, court papers show.

Moore CRE, and its predecessor, Moore and Associates, has been a fixture within Rochester’s brokerage community since 1969.

[email protected]/(585) 653-4020

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
SUBSCRIBE TO OUR NEWSLETTER

Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.


    Input this code: captcha