The Real Deal reports that a team involved with the 68-unit Mirada condominiums in Harlem have been temporarily banned from developing apartments in the state and ordered to set aside $3.2 million, pending a court case over alleged defects at the project.
The AG filed suit against the developers in New York State Supreme Court, alleging a range of fraud and concealment at the eight-story development at 161 East 110th Street.
Sixty-seven unit owners complained to the AG’s office about problems at the building, Schneiderman said.
“Because of their egregious conduct and their failure to cooperate, my office sought a court order under the Martin Act that stops these actors from operating in the securities market and safeguards the purchasing public and the victims at the Mirada as we continue to investigate,” Schneiderman said in a statement.
A hearing is scheduled for Dec. 11.