White label brokerage Side is seeking more than $4 million from Alexander Brothers and a brokerage Official Partners.
According to an amended complaint filed this week, Side alleges that Official Partners and its founders Tal and Oren Alexander committed multiple acts of default on Side’s $4.6 million promise extended in April.
Side says the current balance owed is $4.2 million, and the note continues to accrue interest. The balance request includes additional damages for legal fees and jury duty.
The dollar amounts associated with the loans at issue in the lawsuit, which was filed in October, were previously revised. The note replaced a previous loan term that extended through 2022. It is not clear why the money was extended or its intended use.
“We are deeply disappointed by Side’s damaging behavior towards its partner,” said James Cinque, an adviser to Official Partners, in a statement. HousingWire. The party declined to comment, saying the case is still under trial.
Tal and Oren Alexander were professionals among real estate agents in New York City and Miami, as they represented very wealthy clients at Douglas Eliman before leaving to go legal in 2022.
But in March, two women filed sexual assault charges against Oren Alexander and his twin brother, Alon, and another in July. Tal was named in the latest suit. According to Side’s complaint, more than 30 women have accused the brothers of sexual abuse or rape.
They denied these allegations.
After these allegations, Tal and Oren Alexander took leaves of absence from the Official, and Oren’s New York and Florida real estate licenses are no longer valid. Alon Alexander works for a family-owned security company called Kent Security.
In addition to defaulting on loan payments, Side is accused of several incidents of default, including divesting themselves of their real estate licenses. Earlier this month, Side filed a temporary restraining order against Alexander and Sikhulu for allegedly submitting the underlying collateral for the loan.
The latest filing does not include details of the collateral, only to say that it includes cash, investment property, intellectual property, equipment and documents, among other things.
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