Ordered that the order and judgment is affirmed insofar as appealed and cross-appealed from, with one bill of costs payable to the plaintiff and the third-party defendant.
The Supreme Court properly determined that the "Letter of Understanding" entered into by the parties was an unenforceable agreement to agree since it omitted essential terms and it contemplated more complete and formal agreements ( see Frankel v. Ford Leasing Dev. Co., 7 AD3d 757).
The plaintiff was not entitled to prejudgment statutory interest on his deposit, but only interest actually earned while held in escrow and thereafter deposited with the Orange County Commissioner of Finance.
The parties' remaining contentions are without merit.