“Clearly, a sponsor should be held fully accountable when he raids a segregated reserve fund account designated for the benefit of unit owners in order to pay for his personal Macy’s and American Express credit card bills,” said Held in an e-mailed statement. “Basically, Mr. Levy went for the grand slam, but struck out instead!”
Marc Held, a lawyer who represents the 304-unit building’s 72 condo owners, said he was disappointed that a private developer did not bid on the units Wednesday, which would have sped up the process.
New York Post Updated: Mon., Oct. 25, 2010, 3:43 PM home Lawsuit in hosp attack By JOE MOLLICA and WILLIAM J. GORTA A violent prisoner left uncuffed and unguarded in a Brooklyn hospital bashed a worker who was taking care of him, a lawsuit charges. Justin Houston — who was hauled to Brookdale Hospital by cops — lay in wait for Roxanne Sinclair, hiding his unbound arms under a blanket, the 50-year-old nurse’s assistant alleges. The cop who was supposed […]
Held said. “The reason why he failed is that he was either diverting or mismanaging the money, not putting it into the construction. When work stopped, the building looked like a war zone and it’s only because Anglo-Irish Bank was good enough to provide additional money to finish a lot of the construction while the building was in receivership that 225 Rector became livable for the tenants in recent months.”
“The Second Circuit got it right, there was no basis for an injunction and hopefully, the developers will do the right thing and return all the money to those who were under contract,” Held said.
“Whoever buys these units will share the building with my clients,” said Marc Held of law firm [Held & Hines], which is representing the Rector Square tenants. “There is still work to be done at the building. The unit owners want the party that wins the auction to consider their interest, finish work that wasn’t completed by Mr. Levy and adhere to the original terms of the offering plan.”
The unit owners of 225 Rector Place are glad to see their nightmare will soon be coming to an end,” said attorney Marc Held, who represented about 46 unit owners at Rector Square.
Cigar smoker: I got ‘nailed’ By EDMUND DEMARCHE Last Updated: 7:28 AM, September 4, 2010 What’s he smoking? A Brooklyn man claims he cut his mouth on a nail lodged inside a cigar. Stogie smoker Anthony Raimondi says that two years ago, he bit into a Holt’s Company specialty cigar called the “Smokin Sandwich Slugger” and it “punctured and lacerated the inside of his mouth and tongue,” according to a notice of claim filed in Brooklyn Supreme Court. Holt’s declined […]
Broker sues Extell for commissions owed Broker says developer failed to pay commissions totaling $132,900—the remaining 50% of fees he says are owed to him for selling 28 apartments at the Rushmore. By Amanda Fung Published: August 24, 2010 The developers of the Rushmore—Extell Development Corp. and The Carlyle Group—are being sued by a broker for unpaid commissions on sales of 28 apartments at the new Upper West Side development. The suit was filed in the state’s Supreme Court by […]
Residents are “still very, very upset,” says Marc Held, a lawyer…. who represented buyers in the foreclosure proceeding. “They’re happy that the building will get out of foreclosure, but they’re furious that they can’t resell their units, that there’s no reserve fund, that their money was stolen. But at least they see there’s light at the end of the tunnel.”