A federal judge in Brooklyn has declined to invalidate the sales contracts of eight plaintiffs who made deposits on apartments in a new Long Island City condominium project, then changed their minds as the construction dragged on and the economy spiraled down.
The decision, Romero v. Border East River Realty LLC, 09-cv-665, by Eastern District of New York Judge Allyne R. Ross is one of the first to address how the relatively obscure Interstate Land Sales Full Disclosure Act of 1968, which was originally promulgated to protect out-of-state home purchasers when buying land sight-unseen, may apply in the present market.
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