Condominiums—Design and Construction Defects—Claims Against Architect and Sponsor Defendants Dismissed—Breach of Contract—Negligent Misrepresentation—Malpractice—Third Party Beneficiaries—Statute of Limitations—No Private Right of Action Under the Martin Act—Board Members Cannot Argue They Are Unsophisticated Business People Since They Are Managing a 40 Unit Luxury Building and Had Access to Legal Counsel—Fiduciary Duty Ceases Once Parties Become Adversaries—Privity—Standing—Fraud in the Inducement—Release
A plaintiff condominium board (board) commenced an action on May 29, 2012, against an architect and sponsor related defendants (sponsor), seeking to recover damages for "the alleged defective and/or negligent design, development, construction and operation" of a condominium project (condo) pursuant to an offering plan (the plan) dated Dec. 10, 2007. The individual purchase agreements incorporated the plan.
