Million Dollar Listing: Los Angeles brothers Josh and Matt Altman are being sued for $3.7 million for allegedly leading a client astray during a 2012 real estate deal.
In federal court documents obtained by Page Six Wednesday, plaintiff Peter Kleidman named Josh, 38, Matt, 41, and real estate brokerage Hilton & Hyland in the suit that was filed last January.
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Kleidman claims in the suit that in 2012, he gave Hilton & Hyland, where the Altmans then worked, the listing for his house. He was forced to file bankruptcy two months later.
A year later, the firm sold his home for $5.3 million, representing both the buyer and seller in the deal. The Altmans represented only the buyer.
In the lawsuit, Kleidman says the buyer flipped the home he bought for a profit of “at least $10 million” and that the firm “did not disclose their knowledge of the two different valuations because they ‘were allied far more strongly to [the] buyer,’” according to Page Six.
Kleidman claims that if he knew about the higher value, he “would likely have been unwilling to sell the property for $5.3 million.”
Kleidman is asking the court to cancel the listing agreement and is seeking an undisclosed amount of damages.
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