Seward Park co-op board voids sale of one-bedroom that went at auction for $329G

Seward Park co-op board voids sale of one-bedroom that went at auction for $329GBY Barbara Ross NEW YORK DAILY NEWS Thursday, December 1 2011, 9:13 PM“Linda Salamon thought she won the real estate lottery last May when she bought a $400,000 one-bedroom co-op apartment on the lower East Side for $329,000 at a public auction….”“…Salamon declined to discuss her battle, but her lawyer Richard Klass said that under state law, the co-op board cannot exercise its right of first refusal because the sale is not voluntary; it was forced by the lender.
“He also noted that Seward Park’s board was notified of the auction and could have bid on the apartment when Salamon won the unit….”
Read more: http://www.nydailynews.com/new-york/seward-park-co-op-board-voids-sale-one-bedroom-auction-33g-article-1.985636#ixzz1gLglMXGb
# # #———– copyr. 2011 Richard A. Klass, Esq. The firm’s website: www.CourtStreetLaw.com Richard A. Klass, Esq., maintains a law firm engaged in civil litigation at 16 Court Street, 28th Floor, Brooklyn Heights, New York. He may be reached at (718) COURT-ST or e-ml to RichKlass@courtstreetlaw.com with any questions. Prior results do not guarantee a similar outcome.

R. A. Klass Your Court Street Lawyer

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