Goetz Fitzpatrick secures $1.1 million arbitration award on behalf of condo unit owners against sponsor
Neal Eiseman and Rosalie Valentino of Goetz Fitzpatrick LLP have secured a $1.1 million arbitration award in favor of 5 condominium unit owners against the Sponsor of a Manhattan condominium building. The case involved the Sponsor’s breach of promises contained in the offering plan as well as the Sponsor’s failure to disclose certain construction defects. These defects not only materially impacted the value of each of the condominium units, but also resulted in loss of use and enjoyment of each of the units. The case was before an American Arbitration Association (AAA) neutral, who also awarded all costs and attorneys’ fees to the victorious plaintiffs.
Rosalie Valentino, an experienced litigator who has been with the firm for seven years, was pleased with the award. “The unit owners were your typical young working family with children,” she said. “It is very rewarding to be able to tell your clients, who have been living under stressful conditions for years, that they have been given a second chance.”