L Lofts

Is financing available for this building when there's a pending lawsuit from the board against the sponsor? Seems like there's an issue with roof leaks and structural defects at the building. At an $8mm lawsuit, that's a pretty sizeable amount for a building with so few units (15 i think?) should the board lose and need to pay for all the structural defects on its own. ... [more]

Is financing available for this building when there's a pending lawsuit from the board against the sponsor? Seems like there's an issue with roof leaks and structural defects at the building. At an $8mm lawsuit, that's a pretty sizeable amount for a building with so few units (15 i think?) should the board lose and need to pay for all the structural defects on its own. http://therealdeal.com/blog/2014/06/24/pair-of-developers-facing-third-lawsuit-but-similar-allegations/ They also mention a private roof but apparently the roof hasn't been partitioned yet for each apt and there's more leak issues up there? Does anyone have insight into this building's financials or know anything about what the $1700/month assessment for 6 months is for? A 10k+ asssessment sounds quite sizeable to me. [less]