The Real Deal New York

LeFrak heir must pay NJ condo buyers $4.8M

August 25, 2011 01:13PM

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Jamie LeFrak and the Shore Club condominiums

A judge has ordered that Jamie LeFrak, heir to the LeFrak New York real estate dynasty, pay out $4.8 million to 16 residents at one of his luxury apartment buildings in New Jersey, the New York Post reported.

In a June ruling, LeFrak was found to have sold condominium units in his tony Shore Club condominium in Jersey City to buyers under the assumption that they would have panoramic views of Manhattan, which were promptly blocked by the 32-story AquaBlu, another LeFrak building, the judge said.

Judge Edward O’Connor also ordered the developer and his firm, the LeFrak Organization, to pay $1 million in legal fees.

The LeFraks have operated a family business stretching back five generations. [Post]

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