Billionaire Trying to Back Out of $25M Condo Deal

According to the NY Post, Canadian billionaire, Alex Shnaider, is trying to sneak his way out of $25 million condo purchase. Shnaider who has lost almost 70% of his net worth (down to $1.3 billion), had put down a $5 million deposit to buy the entire penthouse floor at The Brompton condos in the Upper East Side.

In an attempt to get his deposit back, Shnaider filed suit in Manhattan Supreme Court last month and claimed the Brompton’s developer, The Related Companies, misrepresented the penthouse views, the height of the floors and a promise of direct access to a street-level gym.

Shnaider, a Ukrainian immigrant, has commercial real estate projects in Ukraine and Russia and previously partnered with Donald Trump to build Trump International Hotel and Tower in Toronto.