Rakow Commercial Realty Group claims that a $3.4 million offer it lined up with a self-storage developer to buy a White Plains industrial property fell through when the landlord scuttled the deal.
Now Rakow is demanding a $170,000 commission from the landlord, in a complaint filed March 22 in Westchester Supreme Court.
But Joseph Cerniglia, the owner of the property, says Rakow”™s claim “has no basis or merit, and they don”™t have their facts correct.”
The property is at 206-210 Ferris Ave., along the Metro-North train tracks, south of Interstate 287 and across the street from Gardella Park.
It is the home of Sentrale Construction Corp., operated by Cerniglia, whose recent jobs include working on the Tappan Zee Bridge Maintenance Facility in Tarrytown.
In December 2019, a real estate company controlled by Cerniglia gave Rakow, of West Harrison, exclusive rights to market and sell the property for at least 180 days. Rakow would receive a 5% commission for a sale.
Rakow says it identified William Warren Properties Inc. of Santa Monica, California, as a buyer. The company operates 190 storage buildings, including StorQuest Self Storage facilities in Briarcliff Manor and Port Chester.
Cerniglia”™s company agreed last July to sell the Ferris Avenue property to William Warren Properties for $3.4 million, according to the complaint.
But despite having a “ready, willing and able” buyer, the complaint states, Cerniglia”™s company returned a $150,000 deposit and refused to allow the buyer to conduct due diligence, “effectively forcing the termination of the deal.”
Rakow claims that Cerniglia”™s company defaulted on their agreement, triggering Rakow”™s right to collect a $170,000 commission. Cerniglia”™s company has refused to pay, according to the complaint filed by Eastchester attorneys Joseph E. Sarachek and Zachary E. Mazur, and has breached the contract.
“We are disputing their claim,” Cerniglia said in an email. “We are fighting it.”
Rakow does not explain in the complaint why Cerniglia would walk away from $3.4 million. But on March 17, five days before the Rakow lawsuit was filed, Cerniglia sold the property to a Mount Vernon company controlled by Richard, Robert and Angela Persico.
The price, according to a deed recorded in Westchester County, was $4.1 million.
