Welcome to The Home Equity Theft Reporter, a blog dedicated to informing the consumer public and the legal profession about Home Equity Theft issues. This blog will consist of information describing the various forms of Home Equity Theft and links to news reports & other informational sources from throughout the country about the victims of Home Equity Theft and what government authorities and others are doing about it.
Wednesday, September 14, 2016
NY Developer With Dubious History Of Peddling Condos In Allegedly Shoddy Buildings Gets Tagged Again In Miami Lawsuit; HOA Says It Discovered Latent Defects In 67-Story, 292-Unit Luxury Complex After Builder Relinquished Control Of Premises
In Miami, Florida, The Real Deal (South Florida) reports:
The New York-based developers of downtown Miami’s Marquis Miami residences are being accused of building a poorly constructed tower in a new lawsuit.
And now, the Marquis Miami Condominium Association wants a partnership between Shaya Boymelgreen and Lev Leviev, as well as the construction companies they hired, to foot the bill for an array of repairs throughout the building including common areas and individual units.
In lawsuit filed in Miami-Dade Circuit Court last month, the condo association is seeking unspecified damages against Boymelgreen and Leviev, general contractor KM/Plaza and two affiliated companies, and six subcontractors for allegations of breach of contract, negligence, and violations of Florida’s building code.
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Located at 1100 Biscayne Boulevard, Marquis Miami is a 67-story luxury condominium once home to former Miami Heat player Mario Chalmers. When it was first announced in 2011, prices for the 292 units started at $590,000 for a 1,477-square-foot two-bedroom, two-and-a-half bath residence. A duplex penthouse was listed for $2.2 million.
According to the lawsuit, the condo association discovered construction defects not visible to the human eye after Boymelgreen and Leviev relinquished control of the building. The defects were found in the roof, structural components, post-tension cable assemblies, the plumbing, and the fire and life-safety system, among others. The complaint also alleges subcontractors installed incompatible pipes in the sprinkler system that over time will degrade and fail.
Boymelgreen and Leviev are no strangers to controversy. Earlier this year, the duo reached a settlement with New York Attorney General Eric Schneiderman regarding an investigation into three Boymelgreen and Leviev condo projects in the Financial District and DUMBO. The attorney general’s probe determined Boymelgreen and Leviev built shoddy structures, falsified documents to get approval from code inspectors and stole condo buyers’ money, among other alleged crimes.
Last month, Schneiderman settled another investigation into Boymelgreen regarding unfinished work at six of his projects in Brooklyn and Manhattan and his refusal to fix construction defects. Under the terms of the settlement, Boymelgreen agreed to fix the construction problems and take care of building violations. He’s also banned from selling condos in New York for two years.
CBC News: Betrayal of Trust (A CBC investigation reveals how lawyers across Canada have misappropriated and mishandled clients money, to the tune of tens of millions of dollars, or sometimes even charging vulnerable people top dollar for shoddy services)
Land Contract/Contract For Deed/Rent-To-Own Rackets
The New York Times: The Housing Trap (In the wake of the housing crisis, low-income families have turned to seller financing to buy homes but these deals can be a money trap)
Beware The Fine Print: Consumers Forced To Sign Away Their Rights To Use Court System
The NY Times: Arbitration Everywhere, Stacking the Deck of Justice(Part 1 in series examining how clauses buried in tens of millions of contracts have deprived Americans of one of their most fundamental constitutional rights: their day in court)
Foreclosure Mills' Abysmal Record In Complying With New NYS Foreclosure Requirements
Justice Deceived: How Large Foreclosure Firms Subvert State Regulations Protecting Homeowners
MFY Legal Services Report On Questionable Practices By Process Servers In Debt Collection Cases
Justice Disserved: A Preliminary Analysis of the Exceptionally
Low Appearance Rate by Defendants in Lawsuits Filed in the Civil Court of the City of New York
Mortgage Mess Redux: Robo-Signers Return (A Reuters investigation finds that many banks are still employing the controversial foreclosure practices that sparked a major outcry last year)
CNN Video: As Foreclosures Mount, Florida Court Turns To 'Rocket Docket'
The Wall Street Journal: A Florida Court's 'Rocket Docket' Blasts Through Foreclosure Cases (2 Questions, 15 Seconds, 45 Days to Get Out; 'What's to Talk About?' Says a Judge)
"Produce The Note" Strategy When Dealing With Missing Promissory Notes In Foreclosure Actions
ABC Video: Fighting Against Foreclosure (Some homeowners have found a new tactic to keep the banks at bay)
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