The Beacon Tower

You should always be concerned about pending lawsuits and assessments in new (or relatively new) construction. If you're financing, make sure the building is approved by your bank (many banks are reluctant to lend in buildings with open lawsuits against developers for construction defects). If you have a broker, before you make an offer, make sure your broker gets as much info out of the seller's agent as possible regarding potential issues with the building, especially if they know of any future assessments that are planned. Also, make sure you have a good lawyer who actually does his/her diligence so that you're fully informed and can make an independent risk assessment about whether it makes sense to move forward and sign a contract.

Dan Gotlieb
Digs Realty Group
digsrealtynyc.com