Friday, October 26, 2007

Developer Gets 60 Days in Jail Plus $35,000 in Fines

Thanks to Mari of we found a report of a local developer has been sentenced to two consecutive 30 day sentences for "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."

The developer of the aforementioned row home is not only the owner but related to a local real estate agent with Fairfax Realty out of Falls Church, VA. Mudasir Khan's conversion took place in 2005-2006 and was converted into a two unit building, the top unit selling for $499k and the bottom for $411k in April and March of 2006, respectively. Thank god DCRA requires a two year letter of credit for situations such as this but I cannot say what a shame it is that the owners have to deal with the problems now.

I ran a search on the MLS for every property that Amir Khan, the relative/agent has conducted a listing on and there four more conversions for which he was the listing agent for the whole building as well as over five to ten single family homes where it states on MLS that the agent is related to the owner. (You fill in the pieces here)

The condo building addresses are:
2721 13th St NW
1621 E Se NE
1637 A St NE
611 Quincy St NW

If you or anyone else you know lives at or near these buildings I would have them check their bond documentation in their condo docs. If you don't know what to look for, email me.

No comments: