- 11
- Mar, 10
Lender files to foreclose on site of proposed 1800 Market project
Lender files to foreclose on site of proposed 1800 Market project.
Corum initially envisioned 1800 Market as a 12-story building with luxury for-sale condos and rental apartments plus retail space, and hoped to break ground in late 2006.
The developer subsequently altered the project to include roughly 300 apartment units and ground-floor commercial space in 13 stories, with a proposed spring 2008 construction start date.
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- 11
- Mar, 10
Feds: Man Conned Crown Heights Condo Owners
Feds: Man Conned Crown Heights Condo Owners.
Prosecutors say Ezagui, 48, enticed numerous victims to purchase condominiums in Crown Heights through ‘option agreements.’ Option agreements entitled the victims to purchase condominiums at a reduced price prior to construction.
Specifically, the victims paid between approximately $90,000 and $160,000 per unit and received contracts guaranteeing them the deeds for the units once construction was completed. After the properties were built, Ezagui provided the victims with access to the units, and the families moved in, believing they were the lawful owners of their new homes. However, Ezagui allegedly refused to transfer the deeds to the condominiums to the purchasers. Instead, prosecutors say Ezagui secretly transferred the deeds to ’straw borrowers,’ including himself and his family members.more