One of Boston’s prominent luxury brokerages and the developer behind a new Seaport District condominium tower have buried the hatchet in a dispute over allegedly unpaid sales commissions.
Gibson Sotheby’s International Realty and an affiliate of Cronin Development filed a notice with the Suffolk Superior Court April 11 that the brokerage’s lawsuit, filed in January, was being dismissed “with prejudice,” meaning the case can’t be resurrected.
The terms of the deal that led to the lawsuit’s dismissal were not disclosed in the notice. The Boston Business Journal first reported the finding.
Cronin Development did not return a phone call requesting comment. Gibson Sotheby’s declined to comment as of publication time.
Gibson Sotheby’s sued Cronin over what it said was over $1 million in unpaid commission on some of the 42 units the brokerage sold while it was engaged to market the listings in Cronin’s 114-unit St. Regis condominium tower at 150 Seaport Blvd., which opened in 2019.
With sales lagging their expected pace, Cronin replaced Gibson Sotheby’s as exclusive marketing agent last year.
The developer refinanced the debt on the project’s 69 unsold units for $240 million in November.