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Attorney General Sues Developer Over Rector Square Looting

We thought everybody but building resident Augusten Burroughs was already involved in some way in a lawsuit at Battery Park City's Rector Square. Well, state Attorney General Andrew Cuomo wasn't in the mix, until today. His office has now filed suit against Rector Square developer Yair Levy, Crain's and The Real Deal report. The AG's charges against the bucket-swinging developer of the failed Battery Park City condo conversion are familiar: that Levy depleted the Battery Park City Hell Building's reserve funds down to only $70 and misused millions of dollars to write checks to himself and his relatives and pay off credit card bills. Last year's buyers' lawsuit is still winding its way through the legal system, but the AG's involvement is looking like a good sign. And while Cuomo watches out for stray ice buckets, we're sure there are places that $70 could go.
· Cuomo hits Yair Levy with fraud suit [Crain's]
· AG hits Levy with fraud suit at Rector Square [Real Deal]
· $100 Million Rector Square Lawsuit Names Developer, Manager, Shvo [Curbed]

225 Rector Place

225 Rector Place, New York, NY 10006