NY Developer Sues Over 'Shady' Refinancing Agreements

Law360, New York (August 26, 2016, 4:16 PM EDT) -- Ginsburg Development Cos. has sued a real estate financing broker in New York state court, looking to recover at least $15 million and accusing him of lying to get its business and then trying to collect commissions he wasn’t entitled to.

Ginsburg filed suit against David Blatt and his company CapStack Partners LLC on Wednesday in New York State Supreme Court.

According to the complaint, the company hired Blatt to procure $13 million in financing for a real estate project in Mount Vernon, New York, in October 2013 because he presented himself as the managing director of brokerage firm Gemini Capital...

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