From left: Joseph Tahl of Tahl Propp, 1890 Adam Clayton Powell Jr. Blvd. and 1900 Lexington Avenue

Tahl Propp, a Manhattan-based real estate developer and one of the biggest landlords in Harlem, is facing litigation from multiple investors who allege the company has ignored repeated requests to inspect the company’s financial records.

In a March 23 lawsuit in New York State Supreme Court, investors including Jam Capital Assoc., Pies Plus and the SD Pines Family, allege that the company, led by Joseph Tahl and Rodney Propp, have refused to allow them to review the company’s books or tax records, amid concerns that some of the $3.8 million they invested has not been properly accounted for. [more]

Tahl-Propp Equities, one of the biggest residential developers in Harlem, is facing a lawsuit filed late last month alleging building-wide construction defects at the Normandie, a project that was converted from rental to condominium in 2005.

According to the $3 million suit filed in New York state Supreme Court by the building’s Board of Managers, which oversees the condo operations on behalf of the owners, about half of the building’s apartments have mold in them, and other parts of the building have significant cracks, corrosion and other problems.

Other allegations are that the building has exposed heating and water pipes, cracking hardwood floors, exposed structural beams in the common areas and corroded outdoor refrigerant piping.

“Despite actual knowledge of the construction defects, sponsor failed to effect the necessary repairs, compelling plaintiff to retain the service of professional engineers to evaluate the construction defects,” attorneys for the board wrote. [more]

From the September Issue: In the West 20s, the name “F.M. Ring Associates” is emblazoned on the
sides of numerous buildings. The fading mural-like advertisements look
like relics from a bygone era. Brokers say much of Ring’s valuable
portfolio, most of which is in the prime neighborhoods of Gramercy,
Chelsea and Flatiron, sits strangely empty. This month, The Real Deal looks at the mystery of the Ring family and profiles a host of big under-the-radar players in New York. more