White-label brokerage Side is seeking more than $4 million from the Alexander brothers and the 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 events of default on a $4.6 million promissory note Side extended in April.
Side claims 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 a jury trial.
The dollar amounts associated with the loan mentioned in the lawsuit, which was filed in October, were previously redacted. The note replaced a previous loan Side extended in 2022. It’s unclear why the money was extended or its intended use.
“We are beyond disappointed by the destructive behavior of Side towards its partner,” said James Cinque, counsel to Official Partners, in a statement to HousingWire. Side declined to comment, citing the case being in active litigation.
Tal and Oren Alexander were superstars among real estate agents in New York City and Miami, having represented ultra wealthy clients at Douglas Eliman before leaving to found Official in 2022.
But in March, two women filed sexual assault lawsuits against Oren Alexander and twin brother Alon, and another did so in July. Tal was named in a later suit. According to Side’s complaint, more than 30 women have accused the brothers of sexual assault or rape.
They have denied the allegations.
In the wake of the accusations, Tal and Oren Alexander took a leaves of absence from Official, and Oren’s New York and Florida real estate licenses are no longer active. Alon Alexander works for the family security firm called Kent Security.
In addition to defaulting on loan payments, Side alleges multiple events of default, including dissociating from their real estate licenses. Earlier this month, Side filed for a temporary restraining order against the Alexanders and Official for allegedly moving the underlying collateral on the loan.
The latest filing does not include details on the collateral, only to say it includes cash, investment property, intellectual property, equipment and documents, among other things.