The legal battle is between Mass Eye & Ear versus Joseph Crisafulli regarding 313-315 Cambridge Street.
Here’s the short version of the story. On September 21, 1989, Samuel Crisafulli, Joseph Crisafulli’s brother, signed a purchase option with Mass Eye & Ear. The purchase option stated, that five years following the death of Charles Crisafulli and Eleanor Crisafulli (parents of Samuel and Joeseph), Mass Eye & Ear has the right to purchase the premises on the terms and conditions set forth in the option. The option stated that Mass Eye & Ear has the first right of refusal based on fair market value.
Within the last six years, both parents have died and so did Samuel Crisafulli who signed the contract. Mass Eye & Ear has since offered Joseph Crisafulli $1 million for the building based on their appraisal. Joseph claims he has received offers for over $2 million and refuses to sell unless he gets close to his asking price. In the meantime, Mass Eye & Ear has scheduled a hearing in the first week of December for a Motion for Lis Pendens.
The building consists of Four (4) two (2) bedrooms, one (1) retail space and two parking spaces.
File Under: David versus Goliath