QUEENS (CN) – A business claims it paid $660,000 for some Bronx real estate and 9 months later the City of New York bought it back for $1. Property Hackers LLC claims Stewart Title Insurance Co. and Access Title Insurance Agency never informed it that the City had that right.
Property Hackers says it bought the real estate in June 2006 and the city bought it back in March 2007. It says the city’s right to buy the place for a buck was recorded in 1961. It wants its money back, plus interest.
Property Hackers is represented by Richard Walsh with Horing Welikson & Rosen of Williston Park, N.Y.