NY, Apthorp Builders Reach Deal In Condo Controversy

Law360, New York (October 13, 2011, 7:07 PM EDT) -- New York's attorney general said Thursday that the developer of The Apthorp, currently suing its bank, will settle allegations it misled condo owners by paying a $190,000 fine and allowing buyers to break their contracts in exchange for the right to resume sales.

The agreement with Attorney General Eric Schneiderman is the latest in a controversy stemming from contradictory statements the building's developer allegedly made both to the state attorney general's office and in a lawsuit about the likely effect on the building's financial condition of...
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