Condo conversion suit
Read the following:DCRA Announces Guilty Plea in Condominium Warranty Case
From DCRAs Communications Team
GOVERNMENT OF THE DISTRICT OF COLUMBIA
Department of Consumer and Regulatory Affairs Announces Guilty Plea in Condominium Warranty Case
(Washington, DC) Department of Consumer and Regulatory Affairs Director Linda K. Argo announced that on Oct. 5, Mudasir Khan plead guilty to one count of False Statements in a Condominium Registration Application and one count of Failure to Post a Bond or Letter of Credit for 45 R Street NW.
Under District law, condominium developers or building owners are required to warrant (or guarantee) their construction work with the Condominium and Cooperative Conversion and Sales Branch. They secure this obligation by posting warranty security. Several forms of security may be posted under the statute, including a letter of credit, bond or another form approved by the Condominium Branch.
[SNIP info on warranties]
Under the plea agreement, Khan must:
Pay a criminal fine of $15,000 on both counts - totaling $30,000.
Post a warranty security for $5,000 for 45 R Street NW.
Pay a $250.00 Victims Compensation Fund fine on each count - totaling $500.
Khan was sentenced to 30 days in jail on each count, to be served consecutively. The sentence was suspended and Khan was placed on one year of supervised probation for each count to run concurrently. Khan must report to his probation officer on October 23.
[more SNIPing]
"DHCD understands the critical mission served by the Rental Conversion and Sale Division," said DHCD Director Leila Finucane Edmonds. "We will also hold developers responsible for complying with District law and take strong and decisive action against those who do not."
Not having spent too much time paying attention to the structures on "historic" R St (they had banners saying so), I'm guessing this was a townhouse conversion. Correct me if I'm wrong. Townhouses converted into condos have always been a big question mark for me. But then again, I didn't want to be bothered with condos in any shape or form so I never paid that much attention. There are many town homes around Bloomingdale and Shaw, large town homes, converted into 2 or three condos. Is that a good thing? I don't know.
Labels: Bloomingdale/Eckington, condos, housing
posted by Mari @ 25.10.07
3 Comments:
You are correct....its a row home converted to two units. Kahn was both the owner and the real estate agent who sold the units, licensed out of Falls Church, VA with Fairfax Realty. The top unit sold for $499k and the bottom for $411 in March and April of '06. Thank god the city mandates the LoC in case something like this should arise.
Im dealing with something similar with a client (buyer) of mine who will have to file against the bond.
You may also want to know he was the listing agent and possibly _________ of these addresses as well, all of which underwent condo conversion since his first transaction in 2003.
2721 13th St NW
1621 E Se NE
1637 A St Ne
611 QUINCY St NW
Oh snap, I think that I've met the guy. I looked at the units in 1621 E Street. They looked like they were done on the cheap. They were new construction and the tile was loose in the entry way and the door was unlocked when we went to go look with no one there.
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