Side filed the complaint in October claiming that the brothers committed multiple events of default on a $4.2 million promissory note extended to Official after the brothers moved from Douglas Elliman to Side.
Among the events are failing to make a $1.6 million payment, dissociating their New York City real estate licenses and failure to maintain the collateral on the loan, which included bank accounts, cash and real estate.
In subsequent court filings, the Alexanders claim Side unilaterally dissociated their real estate licenses and refused to reinstate them. While Side was granted a temporary restraining order that froze the collateral on the loan, the brothers maintain that they did not move it.
Terms of the settlement have not been filed. Representatives for both parties did not respond to requests for comment.
Tal and Oren Alexander were once stars of the New York City and Miami luxury real estate worlds, having represented ultrawealthy and celebrity clients, including Fanatics CEO Michael Rubin, rappers Kanye West and Jay-Z, and former New England Patriots quarterback Tom Brady.
They were the top earners at Elliman but left in 2022 to found Official Partners with Side, at which point they were granted the loan at the center of the lawsuit.
But in March of 2023, two women filed civil lawsuits against Oren and his twin brother Alon, alleging they were drugged and raped in separate incidents. In response, more women came forward, and at least 17 civil suits have been filed against one or more of the brothers.
All three Alexanders were arrested in December on state and federal sex trafficking charges that allege they’ve systematically drugged and raped dozen of women dating back as far as high school.
They are currently held in a federal facility in Brooklyn, the same one holding rapper Puffy Daddy and Luigi Mangione, the alleged murderer of health insurance executive Brian Thompson.