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Buyers, Developer, World Embroiled in Lawsuit at Hello Living

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Word of shenanigans at Prospect Heights' Hello Living Dakota first reached our ears last fall, when someone started handing out flyers about pending lawsuits at an open house at the Hello Living complex. Seems that was just the opening salvo. The Times reports that the "luxury urban kibbutz" is in the middle of a developer vs. investors showdown that started in a rabbinical court and is now in front of Brooklyn's State Supreme Court. A group of investors is arguing that developer Eli Karp never had the authority to make sales in the buildings, and they want the more than three dozen closings overturned. The investors have named some residents, who've lost their loans because of the legal dust-up, as defendants in the case. So what's Karp's side of the story? He says the investors are doing all this to get him to default on the properties, sending them into foreclosure so the investors can snap them up cheaply. They'd be getting a pretty sweet deal: 10 buildings with shared gym, pool, children's playroom, baby-sitting co-op and community screenings of "Lost." We have a feeling this one'll be dragging on for a while.
· For Families at Hello Living, a Utopia Turned Legal Nightmare [NYT]
· Flyers Try to Dissuade Buyers at Prospect Heights Building [Curbed]

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904 Pacific Street, Brooklyn, NY