Bre Parc 55 Owner LLC v. City and County of San Francisco, and Does 1 through 10, inclusive
Published: Jul. 25, 2015 | Result Date: Jun. 2, 2015 | Filing Date: Jan. 1, 1900 |Case number: CGC-14-537160 Settlement – $431,000
Court
San Francisco Superior
Attorneys
Plaintiff
Andrew A. August
(Browne George Ross LLP)
Defendant
Jean H. Alexander
(Office of the San Francisco City Attorney)
Owen J. Clements
(Office of the San Francisco City Attorney)
Facts
BRE Parc 55 Owner LLC filed a complaint against the City and County of San Francisco, seeking a tax refund.
Contentions
PLAINTIFF'S CONTENTIONS:
Plaintiff operated the Parc 55 Hotel, a 32-story, 1,013-room hotel located at 55 Cyril Magnin St., in the Union Square area in San Francisco. It purchased the property in 2012 for more than $220 million, which amounted to about $227,100 per room. Plaintiff paid over $5.4 million as a documentary transfer tax in connection with the purchase. Plaintiff filed this claim for a refund of over $1.3 million, arguing that it had overpaid the tax for a variety of reasons.
Result
The parties agreed to settle the lawsuit for $431,000.
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