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Developer Sues Lawyer Over $16M Judgment | Real Estate News
Developer Eli Karp is suing his former lawyer, Leo Jacobs, for allegedly abandoning him for over a year while a $16 million judgment loomed — all while Jacobs kept billing him big fees for a nonexistent plan. Karp claims Jacobs failed to file motions to stop the judgment tied to a defaulted $34.5 million mortgage on his 55-unit apartment building, which Greystone ultimately seized. After firing Jacobs in February, Karp’s new lawyers succeeded in halting the judgment — citing flawed appraisal math — but Greystone is now appealing. Meanwhile, Karp also sues Greystone and the appraisal firm…
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