Vedat Rexhepi lost his $1 million lawsuit against Astoria Park Realty LLC on November 5, 2026, when the Appellate Division, First Department, unanimously upheld a lower court’s dismissal of his claim. The buyer had originally offered $550,000 in cash for a severely damaged Bronx home, only to later demand a $270,000 price reduction when the seller refused to renegotiate the terms of the sale. The court’s decision closes the door on his attempt to use a post-contract damage claim to escape the financial commitment of the transaction.
The dispute traces back to a property already ravaged by a fallen tree in March 2018, which left the home with extensive water damage and an official unsafe building violation from the New York City Department of Buildings. The sale listing explicitly disclosed these conditions, prohibited interior access, and required cash-only offers backed by proof of funds. When Rexhepi submitted his written letter of intent in February 2024, he acknowledged the offer was 'as is, without inspection.' He signed the purchase contract the same month, having received interior photographs from the seller’s broker that clearly depicted the extent of the damage.
Legal provisions in the contract further sealed the buyer’s fate. Paragraph 12 of the agreement expressly stated that Rexhepi was aware of the property’s physical condition and agreed to accept it as is, barring only reasonable use, wear, tear, and natural deterioration. The contract also included a standard disclaimer governing casualty loss under General Obligations Law section 5-1311, but it forbade any reduction in the purchase price or claims for changes in the property’s condition. Rexhepi paid a $55,000 down payment, which was held in escrow and later applied toward water charges discovered during the title search.
Tensions escalated by October 2024, as the seller pushed to schedule a closing while Rexhepi’s lawyer requested delays to secure funds. The parties agreed to postpone the closing twice, finally setting a date for January 28, 2025. Five days before that deadline, Rexhepi, now represented by new counsel, demanded a $270,000 reduction in the price. He claimed to have observed new damage through a window, arguing it exceeded normal wear and tear, but provided no engineering report or contractor estimate to support his claim. The seller rejected the demand, noting the conditions matched the pre-contract disclosures, and Rexhepi failed to appear at the closing or tender the remaining balance.
The appellate court found the buyer’s claim speculative because he had waived his right to inspect the property before signing. The documentary evidence—including the listings, pre-contract photographs, and correspondence—proved he understood exactly what he was buying. The court was not required to accept his allegations about the property’s interior condition since they were not based on firsthand knowledge. The dismissal stands, leaving Rexhepi to bear the full financial weight of the as-is purchase he knowingly agreed to.