Episode
Developer Sues Lawyer Over $16M Judgment | Real Estate News
- Published
- Jul 16, 2026
- Duration seconds
- 107
- Processing state
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- https://sources.thednn.ai/7faea049b9f858a6
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Summary
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, accusing them of a “loan-to-own” scheme that inflated the building’s value to trigger foreclosure. Karp’s goal? To recoup every penny he spent and restore his reputation in real estate. Listen in comfort: Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN: [email protected] This is an automated, high-level news summary based on public reporting. Report issues to [email protected]. View sources & latest updates: https://sources.thednn.ai/7faea049b9f858a6