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.
via Mirada Condominiums Harlem | Eric Schneiderman NY AG.
The Real Deal reports increased activity Harlem at building including The Douglass, Windows on 123, the Livmor and Parc StandardLast.
Price cuts on the units in those buildings have resulted in some units selling for less than $500 per square foot.
t, the 72-unit Livmor, the 28-unit Parc Standard and the 38-unit Douglass, all on Frederick Douglass Boulevard, are sold out. The 73-unit co-op 88 Morningside is 71 percent sold. The 86-unit Gateway is 90 percent sold. Windows on 123 is on its second phase of sales.
A few years ago, in 2008 HarlemGuy at a blog meeting for HarlemCondoLife with 6 bloggers present at the meeting in front of witnesses, came up with and coined Frederick Douglass Boulevard from 110 to 125th Street as “Harlem Restaurant Row“. Which since has become a signature phrase credited to Harlem Condo Life.
via Big price cuts lead to big sales in Harlem | The Real Deal | New York Real Estate News.
Posted in 5th on the Park, Avalon, business, Central Harlem, Community, GatewayTower, Harlem, Harlem Sol, New York City, Real Estate, SOHO 118, South Harlem (SOHA), The Livmor
Tagged 88 Morningside, @HarlemHCL, Frederick Douglass Boulevard, Harlem, Harlem Condo Life, Harlem Real Estate, harlem restaurant, harlem restaurant row, HarlemBlog, HarlemBlogger, HarlemCondoLife.com, HCL, The Douglass, The Gateway, The Livmor, The Parc Standard, The Real Deal, Windows on 123, your gateway to harlem