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Jewish News 24 · Sep 4, 2026

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More than $6 million will be returned or credited to buyers who put deposits on Williamsburg condos but were left without their homes or money for years, New York Attorney General Letitia James announced Thursday. The buyers purchased units at 427 Marcy Ave. before the required offering plan was approved. The Brooklyn Jewish developer also failed to place their $6.7 million in deposits into escrow as required by law. Under a settlement, buyers can receive their deposits plus interest or use the money toward their original units under a new developer.

More than $6 million will be returned or credited to buyers who put deposits on Williamsburg condos but were left without their homes or money for years, New York Attorney General Letitia James announced Thursday. The buyers purchased units at 427 Marcy Ave. before the required offering plan was approved. The Brooklyn Jewish developer also failed to place their $6.7 million in deposits into escrow as required by law. Under a settlement, buyers can receive their deposits plus interest or use the money toward their original units under a new developer.

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