"Developer order to pay 10.9 Million to Bed stuy Condo Owners,"
By JOE WALKER - New York Times

A Brooklyn developer who took advantage of a faculty-housing exemption to build oversized condominium buildings, then sold the units on the open market, will be barred from selling apartments in New York State, according to an agreement between the developer and the attorney general’s office.

Along with barring him from selling real estate securities, the settlement requires that the developer, Mendel Brach, pay $10.9 million to the residents of the 72-unit development to repair structural defects. (click for full story)