Adam Leitman Bailey, P.C. Sets Record in Monetary Awards For Clients
In over 22 cases this past year, Adam Leitman Bailey, P.C. has secured over $42 million for clients in poorly constructed buildings, in addition to getting these repairs/renovations done and getting these buildings in the condition that was promised in the offering plan and marketing materials. This amount does not include cases where confidentiality agreements were signed.
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Adam Leitman Bailey, P.C. Lands Largest Condominium Settlement in New York History
Adam Leitman Bailey, P.C. Lands Largest Condominium Settlement in New York History
Sky View Parc Condominum, Queens In what has been hailed as “the city’s largest condo refund ever” (Curbed NY) and “a settlement likely to send shivers through the ranks of the city’s condo developers” (the New York Post), clients of Adam Leitman Bailey, P.C., have recovered 75 percent of $5 million in down payments on $50 million worth of luxury apartments. The agreement, which has recouped $3.69 million plus interest for 118 buyers at the massive Sky View Parc complex...
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Queens Newly Constructed Condominium Receives $900,000 Including Donation of Apartment to Settle Claims for Complete Repairs to Building
Queens Newly Constructed Condominium Receives $900,000 Including Donation of Apartment to Settle Claims for Complete Repairs to Building
The board of a 66-unit luxury new construction condominium in Queens hired Adam Leitman Bailey, P.C. after the board’s numerous attempts at trying to compel the condominium’s sponsor to remediate the serious facade, plumbing, and leaking conditions failed. Adding insult to injury, the condominium’s sponsor was trying to force the board to purchase the residential unit designated as the resident managers unit for an inflated price financed by the sponsor, forcing the board to pay an unconscionable interest rate on...
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Adam Leitman Bailey, P.C. Prevails Against Trump Soho on Fraud Claims; Settlement Provides Millions of Dollars to Clients
Adam Leitman Bailey, P.C. Prevails Against Trump Soho on Fraud Claims; Settlement Provides Millions of Dollars to Clients
The New York Post“They cried “fraud!” — and now, a bunch of well-heeled apartment hunters will get a staggering 90 percent of their deposits back on posh pads they intended to buy at the troubled Trump SoHo condo-hotel because they relied on the developers’ “deceptive” sales figures. In a federal lawsuit settled yesterday, woulda-been buyers of 10 condos — including former French soccer star Olivier Dacourt — will get back 90 percent of $3.16 million (Not part of settlement total number is $5.197)...
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Adam Leitman Bailey, P.C. Works with Attorney General’s Office to Enforce $11 Million Judgment and with the Department of Buildings to Obtain a Certificate of Occupancy For the Building
Adam Leitman Bailey, P.C. Works with Attorney General’s Office to Enforce $11 Million Judgment and with the Department of Buildings to Obtain a Certificate of Occupancy For the Building
The owners of 72 condominium units situated in four attached condominium buildings located in an up and coming section of Brooklyn came to us in late February 2007, after having been represented by two prior law firms. They had entered into a settlement agreement that eliminated any right to commence suit against the sponsor of the four buildings. Investigation of this matter revealed that the buildings needed over nine million dollars in remediation to the building exterior, interior and mechanicals....
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Adam Leitman Bailey, P.C. Forces Sponsor to Fix Newly Constructed Building and Donate Ten Units to Settle Case
Adam Leitman Bailey, P.C. Forces Sponsor to Fix Newly Constructed Building and Donate Ten Units to Settle Case
In late 2006, purchasers were eager to buy units in a “luxury” new construction condominium being built in the heart of trendy Williamsburg. The purchasers closed on 19 of the 29 units (the condominium’s sponsor retained ownership of the last ten units). Shortly after closings began, unit owners began to realize that despite the fancy marketing, the building was rampant with construction defects. Myriad calls and letters to the condominium’s sponsor, and its principal, resulted in no response to the...
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Adam Leitman Bailey, P.C. Gets Building Sponsor to Fix Building, Obtain Cash Settlement From the Sponsor and Force It to Pay Its Bills for 32-Unit Condominium in Brooklyn
Adam Leitman Bailey, P.C. Gets Building Sponsor to Fix Building, Obtain Cash Settlement From the Sponsor and Force It to Pay Its Bills for 32-Unit Condominium in Brooklyn
Sloppy band-aid repairs by the sponsor’s construction company were the standard response to numerous calls by unit owners complaining of serious leaks in this 32-unit new construction condominium in Brooklyn. Each time a unit owner or the board called the sponsor to get a leak fixed, the sponsor was agreeable and told the unit owner or the board to call the subsidiary construction company. Each time, weeks would pass, but finally a single worker would arrive at the building with...
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Adam Leitman Bailey, P.C. Achieves Large Financial Settlement Allowing 16-Unit Brooklyn Condominium to Repair Faulty Newly Constructed Building
Adam Leitman Bailey, P.C. Achieves Large Financial Settlement Allowing 16-Unit Brooklyn Condominium to Repair Faulty Newly Constructed Building
Units were marketed as modern luxury condominium units in the heart of Williamsburg. Purchasers began closing on 15 of the 16 units in the two adjoining buildings beginning at the end of 2007. Shortly after closings began, unit owners began to realize that despite the fancy marketing, the building was rampant with construction defects. Unlike many other condominium sponsors facing this situation, this sponsor did return phone calls and did agree to repair the work. However, the board quickly learned...
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Adam Leitman Bailey, P.C. Represents Developer in Successful Settlement of Condominium Dispute
Adam Leitman Bailey, P.C. Represents Developer in Successful Settlement of Condominium Dispute
The board of managers and all unit owners in a newly constructed eight-story condominium agreed to accept an all cash $178,500 offer from the building’s developer in full settlement of all possible claims of the board and unit owners for alleged defects in the construction of the building’s roof. The board had initially sought a much larger sum for what it claimed it would cost to do a full roof replacement. Adam Leitman Bailey, P.C. was then retained to represent...
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Real Estate Developer Settles Claim by Adam Leitman Bailey, P.C. Client That Real Estate Investment Offerings Violated New York Securities Laws
Real Estate Developer Settles Claim by Adam Leitman Bailey, P.C. Client That Real Estate Investment Offerings Violated New York Securities Laws
An investor client of Adam Leitman Bailey, P.C. invested several million dollars in a number of separate real estate investment properties owned or controlled by a single real estate developer. The developer represented to the investor that the offerings were private in nature and not subject to the registration filing requirements prescribed for public offerings of real estate investment securities by the Martin Act, New York State’s “blue sky” law. Over time, the client came to believe that the developer...
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Adam Leitman Bailey, P.C. Obtains Refunds for Buyers at Homeowners Association Development for Construction Delays
Adam Leitman Bailey, P.C. Obtains Refunds for Buyers at Homeowners Association Development for Construction Delays
Adam Leitman Bailey, P.C. assisted a married couple who had contracted to purchase a residence at the Harbour Point at Arverne by the Sea development in Queens, which was beset by construction delays. Adam Leitman Bailey, P.C. contacted by the couple nearly one year after the home was supposed to be delivered under the sales contract, just after the developer, Benjamin-Beechwood Dunes, LLC, had sent the couple a proposed contract amendment that would have pushed the estimated delivery date back...
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Adam Leitman Bailey, P.C. Wins Landmark Victories Using a Forgotten and Overlooked Federal Law: Judge Rules Condo Deals Come Under Federal Law; a ‘Game Changer’ Decision
Adam Leitman Bailey, P.C. Wins Landmark Victories Using a Forgotten and Overlooked Federal Law: Judge Rules Condo Deals Come Under Federal Law; a ‘Game Changer’ Decision
In late 2008, the real estate sky had started to fall and fall quickly. As a result of the loss of financing and wages, many purchasers in contract to buy a unit in a newly constructed building were either no longer able or willing to close on their units. To make matters worse, the credit markets had been greatly curtailing the flow of money into the hands of developers from purchasers. In March 2008, one of the last outposts of...
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Rescission of Condo Purchase Contract and Settlement at Reduced Purchase Price
Rescission of Condo Purchase Contract and Settlement at Reduced Purchase Price
In the offering plan of a newly constructed condominium, the sponsor represented that it was “anticipated that the first Residential Unit will close on or about November 1, 2008,” and “[i]f such closing day is delayed twelve (12) months or more, purchasers will be offered a right of rescission.” The offering plan also represented that the first full year of condominium operation “will be from November 1, 2008 through October 31, 2009.” Accordingly, the first residential unit closing with a...
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Rescission of Condo Purchase Contract and Refund of Client’s Full Deposit
Rescission of Condo Purchase Contract and Refund of Client’s Full Deposit
The sponsor of a newly constructed condominium represented in its offering plan that the First Unit Closing would occur on or about January 1, 2009 and that the First Year of condominium operation would be the twelve-month period beginning as of the First Unit Closing. However, the sponsor experienced continued construction delays, and January 1, 2009 came and went without any closings taking place. Prior to coming to Adam Leitman Bailey, P.C., the firm’s client had contracted to purchase a...
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Adam Leitman Bailey, P.C. Forces Sponsor to Donate an Additonal $21 Million to Repair and Renovate Building as Well as Obtaining Landlord’s Consent to Have Homeowner Association Board Members
Adam Leitman Bailey, P.C. Forces Sponsor to Donate an Additonal $21 Million to Repair and Renovate Building as Well as Obtaining Landlord’s Consent to Have Homeowner Association Board Members
Adam Leitman Bailey P.C. took on a Brooklyn-based developer after residents were forced to move into a building that lacked basic housing requirements and certainly failed to look and act like the multimillion-dollar apartment dwellings as listed in the marketing materials. The developer failed to complete the common elements, roof and other amenities. After Adam Leitman Bailey was hired to file notices and after meetings with the developer, the sponsor gave the building an additional 21 million dollars to complete...
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Castle Made Fit for a Prince: Purchaser Obtains Unit Promised in the Marketing Materials
Castle Made Fit for a Prince: Purchaser Obtains Unit Promised in the Marketing Materials
A member of a European country’s royal family entered into a contract with the developer and sponsor of a new construction project in the Financial District in Lower Manhattan. For the high purchase price of $1.695 million of the condominium unit, the purchaser expected to be met at his walk-through nearly a year later with what was promised in the offering plan and plans and specifications. As the closing date approached and a walk-through and inspection were done on the...
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Adam Leitman Bailey, P.C. Prevails in Obtaining Comprehensive Settlement of Tenants’ Issues in Largest Condominium Conversion
Adam Leitman Bailey, P.C. Prevails in Obtaining Comprehensive Settlement of Tenants’ Issues in Largest Condominium Conversion
One of the largest single building housing complexes ever constructed became the largest ever condominium conversion plan ever attempted in the United States of America. The billion dollar conversion affected the lives of hundreds of residents of the Manhattan House in numerous ways. Although the Manhattan House conversion was anything but typical, it did include many typical elements of ordinary conversions: – Rearrangement of building facilities – Inducements to current residents to make their homes elsewhere – Disruptions of building...
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Newly Constructed Condominium Building Forces Developer to Fix Repairs
Newly Constructed Condominium Building Forces Developer to Fix Repairs
A small condominium building in Manhattan-hired Adam Leitman Bailey, P.C. to resolve problems arising from the faulty construction of a newly built condominium. The heat and air conditioning system worked intermittently while the top floors had water leaks invading various rooms. Other issues included problems with the ventilation system, a defective façade, a non-functioning security system, a faulty roof drainage system, and various other difficulties. First, all corporate documents and contracts as well as warranties were reviewed and analyzed. Second,...
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Public Enemy No. 1 for Developers
Public Enemy No. 1 for Developers
The Real DealBy: Candace Taylor June 6th, 2010 Real estate lawyer Adam Leitman Bailey has gone up against some of the city’s biggest builders and in the process emerged as one of the most controversial figures in the industry. No one ever accused Adam Leitman Bailey of having low self- esteem. “I think we may be the best real estate law firm of our time,” he says on a recent Monday morning, in a corner office at 120 Broadway with framed newspaper...
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