Saturday, July 26, 2008

Former Star Sues Realty Company for Breach of Contract

Former NBA star Matt Geiger has reportedly sued Global Asset Holdings LLC for apparently failing to live up to its commitment to sell his property, a 28,000 square foot estate at 3385 Old Keystone Road valued at approximately $19.9 million. Geiger wanted to move to Tampa Bay with a more-family oriented atmosphere but all that seems to be lost with the failed transaction.

Originally, Geiger had received an offer of $15 million dollars for the property, but since he wanted to honor his agreement with Global Asset Holdings LLC, he rejected the offer.

Global Asset Holdings LLC opted out of the deal due to the prevailing market conditions. Talk about honor and commitment, I cannot blame Matt Geiger for suing the company. Just imagine the opportunity he lost in millions of dollars!