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

111709ross.jpg 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!

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Comments (12) [rss]

if it was that obvious, why did it take an Einstein to figure it out . . . just a thought.

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).

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.

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.

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.

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.

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

Actually, I'm pretty sure they already do.

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.

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

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!

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