Marc Held, attorney for more than 45 unit owners, questions whether the unit owners can be fairly assessed common charges if the sponsor is insolvent.
“The sponsor has to be financially viable to issue common charges,” Held said. “If [Levy] not financially viable he cannot issue common charges.”
[Marc] Held argues, in the motion, that any decisions about construction, building sales or other issues made by the receiver, Mark Miller, or the new managing agent, Related Cos., have a direct impact on the unit owners.
Irish Times: Held & Hines, LLP Real Estate Condominium Case Against Condo King Covered by Media Anglo seeking to repossess $90m property from New York ‘condo king: BARRY O’HALLORAN STATE-OWNED Anglo Irish Bank is seeking to repossess a $90 million (€71.6 million) New York apartment building from a developer dubbed the city’s “condo king”. The bank’s US subsidiary is going to the New York courts to take possession of 225 Rector Place from a company, YL Rector Street LLC, controlled […]
The Real Deal- Held & Hines’ Lawsuit vs. Platinum Condominium Covered by the Media SJP’s Platinum faces $1 million-plus lawsuit 04/07/2009 The Platinum (right) and its developer, Steven Pozycki, founder, chairman and CEO of SJP Properties SJP Properties is facing a breach of contract suit by a New Jersey family for allegedly misrepresenting the square footage of a $1 million apartment and overcharging real estate transfer taxes, both at the Platinum condominium near Times Square. Arkady and Marina Kiner, of […]
The building’s unit owners would like to see construction completed and the remaining apartments sold at fair market value, and not at fire sale prices, said Marc Held, attorney for the buyers.
Marc Held, attorney for the 46 unit owners in the building, Miller has been granted more authority than almost any residential receiver in recent memory: “As far as I know, these expanded rights have never been done in the state of New York. This is a good day for the residents of 225 Rector Place.”
DownTown Express: Marc Held, Partner, Held & Hines LLP, Quoted Re: Condo Disaster Volume 21, Number 42 | The Newspaper of Lower Manhattan | Feb. 29 – March 6, 2008 Damage in 225 Rector Place’s lobby. Lawyer with tenant sympathies takes over at 225 Rector Pl. By Julie Shapiro The beleaguered residents of 225 Rector Pl. have some reassuring news at last: On Tuesday night, the judge handling the case of their building’s foreclosure appointed a receiver to take control. […]
Attorney Marc Held, who represents unit owners at Rector Square, said that existing unit owners may be eligible for restitution and abatement of some monthly charges.”Those people have many rights,” Held said. “Those rights may include getting their contracts back and the refund on their [deposits].”
NY Post: Marc Held, Partner, Held & Hines, LLP Quoted in NY Post ‘For the month of January,” says Erika Wadler, “I cried every single day.” What could have waylaid Wadler’s heart? Some horrible lothario running roughshod over her feelings? The death of someone near and dear? A peek at her 401(k)? No, it was the walk-through of her condo. Wadler’s a buyer at the Clement Clarke, a new building in Chelsea that got its temporary Certificate of Occupancy late […]
The Real Deal: Marc Held, Partner, Held & Hines, LLP Quoted in Lawsuit: 225 Rector Condominium Rector Square buyers allege condo used for dorms, hotel stays By David Jones Units at Rector Square allegedly available per night and for students Nearly a year after gaining regulatory approval, Rector Square developer Yair Levy failed to disclose the building’s financial records to buyers at the troubled condominium, offered vacant apartments for extended-stay hotel guests and sold at least 10 apartments for use […]
