Backout Buyers Appeal ILSA Ruling: Buyers at Harlem’s Fifth on the…

Buyers at Harlem’s Fifth on the Park filed an appeal earlier this week to overturn a judge’s ruling that they couldn’t cancel their contracts or receive refunds on their deposits, The Real Deal reports. The buyers had sued under the Interstate Land Sales Full Disclosure Act, arguing that the developer never filed a required report. The judge ruled the report was unnecessary because the building had made fewer than 100 sales. Other ILSA cases are still wending their way through the system, so, Fifth on the Park, the world is watching. [Real Deal; previously]

Tags: Contract Disputes, Fifth on the Park, Harlem/M'side Heights, ILSA, Interstate Land Sales Full Disclosure Act, lawsuits, Quicklink

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