More than half of the owners at Arris Lofts — a 237-unit condominium conversion in Long Island City located in the former Eagle Electric building — are suing developer Andalex Group for $20 million, seeking damages for alleged negligence, including misappropriated funds and breaches of warranty, Crain’s reported. The attorney representing the 120 apartment owners involved in the lawsuit, Steven Sladkus of Wolf Haldenstein Adler Freeman & Herz, said he is finalizing a formal complaint outlining all the allegations. While the developers no longer own apartments in the building, they maintain control of the condo board. In their suit, the owners claim that the developers were inappropriately using funds to pay for things like construction material, and that they “exhibited a total lack of interest in calling board meetings and doing what is necessary on behalf of unit owners,” Sladkus said. Calls by Crain’s to Andalex Group and their attorney, James Hausman of Meister Seelig & Fein, were not returned. Meanwhile, a couple who lives in a $3 million penthouse at Arris Lofts and invoked the Interstate Land Sales Full Disclosure Act are seeking to quash an apartment contract. That case is pending. (note: correction appended) [Crain's]

[more]

Marina Tencza and husband, Darius, are demanding their money back for an apartment they moved into at the Arris

So far this year, federal judges have ruled on the first three cases in which New York City buyers are attempting to invoke a previously unknown law, the Interstate Land Sales Full Disclosure Act, to quash their apartment contracts based on the [more]

Dottie Herman’s Elliman replaces Kelly Kennedy Mack’s Corcoran Sunshine as marketing agent at Arris Lofts.

Two more developments have pulled sales-team switcheroos in a tough real estate climate. Prudential Douglas Elliman has now taken over as the sales and
marketing agent at Arris Lofts, a 237-unit condominium in Long Island
City. Corcoran Sunshine Marketing Group previously marketed the
project. Meanwhile, the 330-unit William Beaver House in the Financial District has
changed sales teams yet again. After a disagreement with the
development team of Andre Balazs and SDS Investments, Core Group
Marketing is no longer the co-exclusive sales agent at the project, according to Core CEO Shaun
Osher. Prodigy International, a brokerage with offices in New York,
Miami, Panama, Mexico and Spain, previously handled sales at the development alongside Core, but is now the sole sales and marketing agent,
according to Rodrigo Nino, the president of Prodigy. [more]