Lock Him Up and Throw Away the Key
Destined for a high spot in the dirtbag developer hall of fame, Mendel Brach (aided and abetted by his trusty yes-man, architect Henry Radusky) knows how to manipulate the buildings system in New York like few others. In recent months, though, some of his short-cuts have been coming back to haunt him. Last week the…
Destined for a high spot in the dirtbag developer hall of fame, Mendel Brach (aided and abetted by his trusty yes-man, architect Henry Radusky) knows how to manipulate the buildings system in New York like few others. In recent months, though, some of his short-cuts have been coming back to haunt him. Last week the Daily News reported that Brach is being forced to cut back his Finger Building in Williamsburg from 16 to 10 stories; this weekend, the paper followed up on a story that’s been out there for a while about Brach’s Bed Stuy development, The Spencer. Using a loophole that allows developers to build well beyond standard code limitations for educational and religious purposes, Brach built his project to twice the legal height, only to turn around and sell the building as condos on the open market. The DOB caught on too late to protect buyers and is only now approaching a resolution. In the meantime, the new owners have been the ones getting screwed. This guy should go to jail. End of story. Where’s Eliot Spitzer when we really need him?
Condo Nightmare [NY Daily News]
Bottom Line on Developer Abuses [Brownstoner]
The Spencer [Developers Group]
Thanks Anon 3:37. I guess it was my bullet-dodging prowess that made me a perfect fit for my new neighborhood, Bed-Stuy, in the first place. 😉 I purchased in Bed-Stuy, but I didn’t score one of those beautiful brownstones or anything, just a condo. I’m very glad to be a homeowner though, and I really like the neighborhood.
New 2 Brooklyn, where did you end up purchasing? Congrats on your bullet-dodge.
Anon 3:41, you have my sympathy too. I, like $$$$$$$ at 5:27, also wonder what banks are financing these crimes. I came THIS close to purchasing a condo at The Spencer and I also seriously considered buying one in The Kent as well. The roadblock to my purchasing either condo came from an agent with the Developer’s Group. She told me that I would need to use Manhattan Mortgage Company to handle my financing. I already had a pre-approval from Wachovia, so I told her that I wouldn’t need to use Manhattan Mortgage Co. She then told me that if I didn’t use MMC, then I would nullify the mortgage contingency agreement that I would get if I used MMC. Basically, this meant that I would have to give The Developer’s Group my downpayment and then, if for some reason Wachovia did not approve my loan, I would not be able to get my downpayment back. On the other hand, if I were to use MMC, and they decided not to approve my loan, then I would receive a refund for my downpayment. This didn’t sound right to me, I mean, why should they care about the source of my loan? Isn’t Wachovia’s money as good as any other bank’s money? This left me with a strange feeling so I went with my gut and bowed out. I only lost $100 to those crooks (that was the cost of condo plan booklet with the condo bylaws and all of that stuff). I remember feeling sad for a couple of weeks because I really thought that I would be moving into one of those buildings. I now listen to the horror stories about that place and thank God that I didn’t purchase with them.
Anon at 3:41–my heart just goes out to you guys. This’ll be a case where the developer gets a piddly fine and gets to keep the multi-millions in profit, while you poor souls go through hell. Good luck.
What banks are helping them finance these crimes?
yea he is a dirtbag; but why no talk about all those suspicous fires in Prospect Heights? Guess the black folks were not moving fast enough for some people….
Anon 3:41pm, what’s happening with 209 Spencer? Do they still have anyone in contract?
Hi – I’m a resident in The Spencer and I thought I would chime in. We have tried desperately to get the AG involved in our case. They are well aware of it, but don’t do anything because “the developer and the DOB are working it out.” As you can imagine, that approach doesn’t inspire much confidence on our part. It wasn’t until we met with the DOB that we realized that Radusky himself is the one drafting plans to remedy our situation. He and the DOB were quite buddy buddy.
The moral of this story is pretty sad. As a buyer in NY you cannot depend on the DOB and their inpections to protect you. Right now the system favors the developers and getting things built fast.
You must research the developer and the architect befor you buy in a new building. Be especially careful when buying with a Temporary Certificate of Occupancy! And finally – tread carefully when buying through The Developers Group.
And you already thought buying a new home was complicated….
When I first heard about these people and the millions that had been made at their expense, I felt like crying. Then I felt really angry that the developer is allowed to get away with this.