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Brooklyn Property Owners Can’t Duck Developer’s $76M Suit

Law360, New York (April 17, 2015, 6:41 PM EDT) -- A Brooklyn judge has refused to throw out a contract dispute between the owners of a $76.5 million building near Prospect Park and investors who want to turn it into posh apartments, ruling the owners haven’t shown the buyers defaulted by failing to attend the sale’s closing.

One PPW Residences LLC struck a deal in January 2014 to buy the nine-story building, which included an assisted living facility on the fourth floor. One PPW sued in August, claiming the owners breached the agreement by scheduling closing before getting New York Department of Health approval on a plan to close the nursing...

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