An Interstate Land Sales Full Disclosure Act case brought against the 505, a new 108-unit Hell’s Kitchen condominium, has been dismissed in U.S. District Court, the developer announced today, marking a defeat 35 buyers.
Fifty-three buyers filed ILSA claims, starting in June 2009. Subsequently, 18 of those either settled with the builder Parkview Developers or closed on their units at 505 West 47th Street.
But while a statement from Parkview said the developer intends to seek legal fees from the claimants, the buyers’ attorney Lawrence Weiner said that his clients intend to appeal…. [more]