Co-Op Board Sues Frost Equities Over NYC Condo Ownership

Law360, New York (November 15, 2012, 7:00 PM EST) -- The co-op board for a condominium building on Manhattan's Upper East Side sued the building's developer and sponsor Frost Equities Co. LLC in state court last week for its failure to sell all of the building's units more than 25 years after it was converted from a rental property.

Frost Equities promised in marketing materials and offering documents that it would make a good-faith effort to sell all of the condo units as soon as rent-regulated tenants moved out, according to the suit filed Nov. 6....
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