Brooklyn condo residents win lawsuit, set to convert building to co-op (NY)

/ Owner - June 29, 2024

They thought they were buying apartments in a 25-unit condo in Bay Ridge, Brooklyn. But the developer lacked permits to erect the building, never transferred deeds to the owners, and failed to make $5 million in mortgage payments. When the lender, Maxim Credit Group, started foreclosure proceedings on the property, the residents faced the prospect of losing millions of dollars — and their homes.    Read the article…………………………….

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