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Eric D. Sherman, a partner in Pryor Cashman’s Real Estate Litigation Group, was quoted in the February 6, 2008 edition of The New York Times in an article entitled “A Fee That Developers Would Like To See Rise.” The article by Alison Gregor discusses a proposed bill before the N.Y. State Legislature which would increase filing fees for developers of condominiums and cooperatives, with the proceeds to be used in part to handle enforcement in cases of complaints by buyers in new projects. 

Sherman, who is involved in litigation representing buyers who have experienced serious problems in a new project, pointed out that if the Attorney General’s office had been able to mediate the situation, court action might not have been necessary. He noted that under certain circumstances, such as when a court determines that the complaints fall within the purview of the Martin Act and therefore must be addressed by the Attorney General’s office, a lack of staffing in the Attorney General’s office often results in unit owners being left without a remedy. 

To read the article, please click here.