Elliman sues Shvo, Mandarin Oriental devs over unpaid fees 
Michael Shvo’s Mandarin Oriental Residences is at the center of another lawsuit, this time filed by its former exclusive sales agent, Douglas Elliman. The brokerage sued the entity behind the development of 685 Fifth Avenue, led by Shvo, alleging the developer paid Elliman just half of its fee after ousting it from the project late last year. The complaint, filed in New York on Wednesday, accuses the developer of violating its contract with Elliman, including a term requiring it to pay the brokerage $250,000 if it was fired from the project “without cause.” The contract stated that the developer could […]
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