NY Luxury Condo Owners Settle Claims Against Developer

Law360, New York (February 2, 2012, 5:05 PM EST) -- The management board at a luxury condominium complex in Brooklyn, N.Y., has settled a long-running lawsuit against the building's developer over alleged construction defects for an undisclosed amount, according to court documents made available Wednesday.

Developer Joshua Guttman and 223 Water St. LLC agreed Monday to pay a settlement to the management board at 50 Bridge St., in Brooklyn's up-and-coming Dumbo neighborhood, defendants' attorney Lawrence F. Digiovanna confirmed Thursday.

The managers say they now plan to work with a local engineering company to repair the building...
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