NY AG Moves to Compel Testimony in Brooklyn Condo Conversion Scandal

The New York Attorney General is investigating misappropriated funds and legal violations at 475 Washington Ave in Brooklyn. Developer Barry Leon faces potential court action for ignoring subpoenas.

By: AXL Media

Published: Apr 30, 2026, 11:15 AM EDT

Source: Bisnow

The Core Allegations

The Office of the Attorney General (OAG) is examining a series of reported failures by Leon and his business partner, Louis Greco:

Misappropriated Funds: Leon is accused of improperly investing money from the condo’s mandatory reserve fund intended for capital repairs into his own separate businesses.

Disclosure Failures: The developers allegedly failed to file necessary disclosures, pay common charges, or settle real estate taxes on unsold units.

Tenant Rights Violations: The investigation includes claims that the duo ignored laws regarding rent-regulated leases and mandatory tenant buyouts during the conversion process.

Neglect: Allegations include a failure to perform routine facade inspections, a critical safety requirement in New York City.