If It's Raining, and Your Real Estate Broker Cancels, Be Suspicious!

The Corcoran Group is being sued by a Brooklyn couple who claim the company's real estate agents canceled appointments with prospective buyers on rainy days to hide a little water leak problem at a Park Slope apartment. Harold Einstein (a distant relative of genius Albert) and Jennifer Boyd want $5 million in damages from Corcoran for allegedly selling them a flood-prone condominium unit on 4th Street for $1.295 million. The lawsuit hasn't gone to trial yet, but yesterday a State Supreme Court judge dealt a preliminary blow against Corcoran for concealing evidence.

According to The Real Deal, Judge Charles Ramos told lawyers for Corcoran to "read the riot act" to their client, finding the company "grossly negligent" for failing to preserve and turn over e-mails revealing that Corcoran agents canceled appointments with prospective buyers on rainy days. Apparently, the flooding in the three-bedroom Park Slope duplex was so bad that it was like "the side of a swimming pool has come down," Einstein tells the Daily News. Well, it doesn't take a genius to see that Corcoran's in a bit of hot water here.

Below, some completely crazy video of the flooding this couple endured. Spoiler: They were not exaggerating!

[Video via Brownstoner]

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By John Del Signore in News on November 17, 2009 2:55 PM

Comments [rss]

Clarice City

He should get out of that water before he gets electrocuted. Flooding apartments can be a death trap for that very reason. Those poor people- I hope they sue the pants off Corcoran Group!

Bike Rider

glenglary glen ross! those are alec baldwin's brass balls!

Anthony Toma

That's why they say real estate agents are laziest. It has been said that about 20% of the agents do 80% of the real estate business.

Guest

They are going to have a severe mold problem soon...

Guest

Actually, I'm pretty sure they already do.

JacqueMehoff

I lived in a top floor tenement apartment and know bout leaks but this looks 10 times as bad as what I've been through.

would a home inspector know what to look for in a new construction for leaks? it would take a while for water stains to show up so since it was new construction, it was clean.

only way to tell is if your inspector came on a rainy day.

longacre

The video shows the whole problem: the drain at the bottom of the outside steps is clogged. Foolish of the previous owners and/or the broker not to fix such a simple thing, but hardly worth $5 million.

Solution:

A. Snake the drain

B. Improve the waterproofing at the bottom of the door

C. If the water gets high, don't open the door, Einstein.

pastaboy12

i used to live in a base in crown heights and had to live with the building plumbing and a sub pump under my closet. ive had my share of shower, rain and poo water grace my apartment with an indoor pool of 6 inches.

im happy as FUCK im not there anymore. i feel these guys' pain.

maevemealone

That IS bad flooding but wouldn't water damage have been visible even on dry days? And wouldn't at least a home inspection have detected something? I think they got screwed by more than just the agent.

schadenfreudian mensch

The broker took a course in the David Mamet's laws of selling real estate:

Rule #1: ABC - A-Always, B-Be, C-Closing. (This of course also goes for getting in the pants of a hot chick).