It's been almost a week since our last buyer backout, which means it must be time for another. The Real Deal reports that a judge has granted three buyers the right to get their deposits back at new Williamsburg development and old Curbed obsession 80 Metropolitan. Their weapon was the increasingly successful Interstate Land Sales Full Disclosure Act (ILSA). The buyers?one of whom is "Royal Pains" actress Anastasia Griffith, in contract for a $575,000 1BR?argued that the developer failed to register the condo according to ILSA regulations. We expect the legal moves in this case aren't yet done. Still, with the number of new backout cases since the District buyer victory in August, this is starting to look like the Year of ILSA.
· "Royal Pains" star, two others, granted rescission in 80 Metropolitan ILSA case [Real Deal]
· 80 Metropolitan coverage [Curbed]