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...
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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


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