AG James hits SME Capital over neglected Hudson Yards condos

Lender SME Capital Ventures, which took control of a luxury Hudson Yards condo building at 441 West 37th Street in a foreclosure auction, will pay more than $700,000 to settle a case brought by Attorney General Letitia James alleging neglect and unpaid fees. The deal requires SME to pay a more than $523,000 balance of monthly fees, reimburse condo owners upwards of $15,000 for renewing the building’s certificate of occupancy themselves and pay a $54,000 penalty.  The AG also alleged that SME was actively working with brokers to sell the building’s remaining condos while neglecting to pay the monthly costs, […]

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