Investors Sue Developer Over Botched $101M NYC Project

Law360, New York (October 19, 2012, 3:27 PM EDT) -- A pair of investors in a $101.5 million Manhattan residential project sued the developers in federal court on Thursday over allegedly misrepresenting the project, which went bust in 2011 and was sold at auction, leaving them empty-handed.

Queens residents Stephen Deng and Ruohong Jiang contend they are out a cumulative $330,000 due to misrepresentations and various misleading comments made by Kaish & Taub Development LLC and its various affiliates in the Gramercy Park area project. The complaint seeks $1.3 million in damages.

Claims in the suit...
To view the full article, register now.




Case Information

Case Title

Deng et al v. 278 Gramercy Park Group LLC et al

Case Number



New York Southern

Nature of Suit



Denise L. Cote

Date Filed

October 18, 2012


UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.