Financial exec Randy Landsman and his wife Robin auctioned their Tribeca triplex via Sotheby’s for $5 million in 2024 — then blew off the sale and refused to pay the $600,000 auction house fee, according to a new lawsuit.
Sotheby’s Concierge Auctions claims in court documents that the couple now owes more than $833,000, including various fees. The four-bedroom, three-bathroom triplex at 11 Vestry St. in Tribeca spans more than 3,000 square feet and has 2,000 square feet of outdoor space, multiple fireplaces and a three-story staircase.
On July 16, 2024, the Manhattan-based auction house signed an agreement with Landsman, CEO of financial services firm Beacon Global Group, and his wife to sell their penthouse lair in conjunction with Jonathan Stein and Gavin Shiminski of Douglas Elliman, who declined to comment.
The “no-reserve” auction had a projected starting bid range of $3 million to $5.5 million, according to documents filed in Manhattan Supreme Court.
The auction ran from Aug. 23 to Sept. 6 that year.
Sotheby’s claims it fulfilled its obligations, securing a $5 million winning bid on the final day, according to court documents.
But the Landsmans “breached the auction agreement by refusing to consummate the sale of the property,” court documents indicate.
On Sept. 11, 2024, the Landsmans sent communication, stating that they “will not be proceeding” and “will not be signing any further documentation,” documents say. “Respondents never retracted this repudiation and reinforced their refusal by directing the escrow agent to return the buyer’s deposit.”
The couple then failed to pay the required $600,000 percentage-based fee charged by the auction house on top of the hammer price — or 12% of the $5 million bid.
Now, Sotheby’s filed a petition to confirm a February arbitration award.
For their part, the Landsmans, who didn’t respond to a request for comment, sought “dismissal, contending that Claimant breached by failing to wait for a right-of-first-refusal (ROFR) waiver, that the ‘on or about’ closing date was flexible, that Claimant was required to send a ‘time is of the essence’ notice, and that Respondents were engaged in discussions with Claimant’s CEO regarding a higher price,” according to arbitration documents. The couple’s motion was denied by the arbitrators.
“The defense was rejected because there was no valid defense: Concierge Auctions did the job it was hired to do and successfully sold the property,” a spokesperson for the auction house said in a statement.
The Landsmans purchased Penthouse 6 in the six-unit, six-story building for $4.2 million in June 2008, according to property records.
They put it on the market in April 2023 with a $12.2 million asking price. After more than a year and some price cuts, the home went to auction the following August with a listing price of $8.65 million, according to Mansion Global, which reported when the home hit the auction block.
Penthouse 6, which appears to be off the market, is in “excellent condition,” said Corcoran broker Kane Manera, who listed the apartment for $7.49 million for a couple of months in 2025. “It’s very salable,” with different levels, ample outdoor space, southern views and high ceilings, he noted. In addition, the home is on a quiet block and in a boutique building in a prime neighborhood.
When asked why the home hasn’t sold, Manera said: “It may not be to everyone’s style when it comes to the customization that’s been done. You need a particular buyer or you have to make concessions to bring buyers in.”
That style includes cherry wood flooring, stone work, and bedrooms being used as an office and a gym.
If he were to list the apartment today, Manera said he would give it a $6.5 million price tag, and tell the sellers, “to be reasonably negotiable.”
