HUD probes Extell over Rushmore complaints February 04, 2010 06:00PM By David Jones From left: Attorney General Andrew Cuomo, Secretary of Housing and Urban Development Shaun Donovan and the Rushmore The U.S. Department of Housing and Urban Development has launched an investigation into the Rushmore condominium, amid allegations that the lawyers for the developer, Extell Development, held previously undisclosed meetings with state Attorney General Andrew Cuomo’s office to prevent existing buyers from backing out of their apartment contracts. HUD officials […]
“They negligently failed to disclose the true financial condition of the condo,” Mr. Held said. “My clients were harmed as a result.”
“While it is not a surprise that the court has granted Anglo Irish Bank’s motion to foreclose the sponsor’s interest in the property, the unit owners of 225 Rector hope that the bank and any future owners of the sponsor’s units will consider and respect [the unit owners] interests and legal rights as we move forward,” said Marc Held, attorney for the unit owners.
Court approves foreclosure of Yair Levy building Creditors of developer’s Park Columbus condominium conversion project will be permitted to proceed against him. By Amanda Fung January 14, 2010 2:47 PM Beleaguered developer Yair Levy suffered another setback Wednesday when a court issued a ruling allowing the lender on Mr. Levy’s Park Columbus property on West 87th Street to move forward with its foreclosure proceedings on the 95-unit condo conversion, according to filings. The U.S. Bankruptcy Court of the Southern District […]
“He is a developer who tried to ride the real estate wave and was unsuccessful,” says Marc Held… , who is representing the Rector Square tenants. “Unfortunately, with his mistake, a lot of condo owners got hurt.”
“Instead of a building of their dreams they bought into a building of nightmares,” said Marc Held, attorney for the unit owners.
New York Times: Marc Held, Partner, Held & Hines, LLP Quoted In Article with Client and Award Winning Author Augusten Burroughs Augusten Burroughs, the gothic serial memoirist, has found a home in a bankrupt building in Battery Park City. Naturally, he loves it. By PENELOPE GREEN Published: October 21, 2009 “THIS is the first apartment I’ve ever owned,” Augusten Burroughs said. “Wouldn’t you know it would be in a building where the developer went bankrupt and fled the country?” […]
It’s the first Manhattan building to go through foreclosure with units already sold, said Marc Held, a lawyer for Flakowitz and 46 others at 225 Rector Place.
“Instead of offering the plaintiff the right to rescind the agreement, as required by the offering plan, the defendant sponsor’s 16th amendment to the offering plan states that purchasers have no right of rescission related to the first closing,” attorneys Philip Hines and Marc Held wrote in the complaint.
Anglo Irish poised to put Rector Square on auction block September 01, 2009 11:30AM By David Jones Yair Levy, 225 Rector Square Anglo Irish Bank filed a motion in New York State Supreme Court earlier this month to complete foreclosure proceedings against Rector Square developer Yair Levy and place the troubled Battery Park condominium conversion on the auction block for sale to a new investor. Anglo Irish originally filed suit in February alleging that Levy defaulted on a $165 […]