PRIME CITY REAL ESTATE CO INC v. HARDY (1998)

Judgment, Supreme Court, New York County (Karla Moskowitz, J.), entered September 23, 1997, which, after a nonjury trial, awarded plaintiff damages in the principal amount of $100,000, plus interest and costs, unanimously affirmed, with costs.

 In this action to recover a broker's commission for procuring a prospective buyer for defendants' real property, plaintiff adduced ample evidence that defendants and the prospective buyer (Wasserman) procured by plaintiff agreed that the property would be sold for $4.1 million in cash, on an “as is” basis, with a $410,000 deposit to be paid on execution of the contract, conditioned on Wasserman's verification of registration of rents and violations of record, which verification was carried out to Wasserman's satisfaction.   The principals, accordingly, agreed on the essential terms of the transaction (see, Mengel v. Lawrence, 276 A.D. 180, 181-182, 93 N.Y.S.2d 443;  Charles S. Glassman Assocs. v. Hallen Realty Corp., 37 Misc.2d 877, 879, 235 N.Y.S.2d 215, affd. 20 A.D.2d 759, 247 N.Y.S.2d 380), and defendants' subsequent receipt of an offer of a higher price did not entitle them to avoid paying plaintiff's commission by refusing to negotiate the remaining details of the sale to Wasserman, thereby thwarting that transaction's natural progress (Trylon Realty Corp. v. Di Martini, 34 N.Y.2d 899, 900, 359 N.Y.S.2d 284, 316 N.E.2d 718, affg. 40 A.D.2d 1029, 1030, 338 N.Y.S.2d 945;  Linda M. Kirk Assocs. v. McDonald Equities, 155 A.D.2d 281, 281-282, 547 N.Y.S.2d 44, lv. denied 75 N.Y.2d 706, 552 N.Y.S.2d 929, 552 N.E.2d 177).   Wasserman's financial ability to consummate the transaction was established by his testimony concerning his assets and access to credit, substantiated by a financial statement setting forth his bank accounts, securities and real estate holdings (see, Siegel v. Liese, 23 A.D.2d 425, 426-427, 261 N.Y.S.2d 400, affd. 18 N.Y.2d 930, 276 N.Y.S.2d 1008, 223 N.E.2d 500;  Globerman v. Lederer, 281 A.D. 39, 42-43, 117 N.Y.S.2d 549).

MEMORANDUM DECISION.