Attorney General James secures over $6M for Brooklyn customers cheated by condo developer
The Attorney General’s Office says Ezra Unger unlawfully sold units, collected payment for apartments at 427 Marcy Ave. in Williamsburg and spent the money instead of holding it in escrow.
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New York Attorney General Letitia James secured more than $6 million in restitution and purchase credits for Brooklyn residents who provided apartment downpayments to a condo developer who never delivered.
The Attorney General’s Office says Ezra Unger unlawfully sold units, collected payment for apartments at 427 Marcy Ave. in Williamsburg and spent the money instead of holding it in escrow.
Authorities launched an investigation following a complaint that the developer entered into contracts with buyers even though the OAG hadn’t accepted the building’s offering plan for filing.
The OAG says Unger has since agreed to repay buyers, pay $824,000 in penalties and is barred from selling securities in New York for six years.
“When New Yorkers hand over their hard-earned savings for a down payment on a home, that money is not a piggy bank for developers to raid,” said James. “This developer broke the law by taking money from families before it was legally allowed to sell these homes, then left them waiting for years with nothing to show for it. My office will continue to hold developers accountable and fight to get New Yorkers their money back.”
