NYC Real Estate and Negotiations

In an attempt to remove their name and assets from international speculation, two Kazakh men used The Flatotel as a scapegoat for parking their money. A New York developer, Joseph Chetrit, co-conspired with the two men who ultimately invested approximately 40 million into the Hotel. He was allegedly aware that they two men were being sough after in international courts for theft.

            In this case a suit is filled upon these three men by Boies, Schiller & Flexner LLP for damages amounting to $18 billion after this occurrence. The bargaining zone is unclear at this moment but Boies, Schiller & Flexner LLP will aspire to recapture all of the damages that have been incurred about this horrible incident.

            A distributive negotiation will most likely be used because the banker and former politician from Kazakhstan and developer Joseph Chetrit will most likely not have much bargaining power. They will hold the lesser position due to their corrupt and malicious actions. Boies, Schiller & Flexner LLP will need to claim a competitive value and recapture what it is ultimately lost from these three men, which will not all be monetary.

            In this article, this case is very centralized on ethics and what is correct and how these three men were able to go around the corporate structures that were in place for foreign investment in real estate. The real estate market is not a very heavily regulated market and this might ignite changes in the laws we see today.

            Due to the intricate nature of this case, there will be a lot of ripple effects that will be caused and seen throughout the real estate industry, international real estate investment realm, international law and so forth. The BATNA for the 3 men is not looking too good at this point in time but Boies, Schiller & Flexner LLP, hold a high position and the upper hand in this case and ultimately, negotiation.