18
J U L Y , 2 0 1 7
HIGH
HIGH
HIGH
tech
touch
value
LEVERAGING TECHNOLOGY TO
STREAMLINE COMMUNICATION,
OPERATIONS AND REPORTING.
CULTIVATING RELATIONSHIPS TO
ENSURE HIGHLY SATISFIED ASSOCIATION
RESIDENTS AND STAKEHOLDERS.
PRESERVING AND ENHANCING VALUE
THROUGH BEST-IN-CLASS SERVICES.
To learn more, visit
IntegraMgtCorp.com
or call
Edward San George, MPA, PCAM at
973.770.1500
.
200 Valley Road, Suite 203
Mt. Arlington, NJ 07856
T
(973) 770-1500
364 North Main Street (Route 9), Suite 5
Manahawkin, NJ 08050
T
(609) 660-0208
Financial services
Management
services
Communication
services
Construction
& maintenance
management
Transition
management
services
Emergency
management
Consulting
Community
Association
Management
Corporate Office:
South Jersey Office:
In response, the Association hired
various contractors, home inspectors,
and professional engineers to investi-
gate, test, and repair the source of the
water leaks.
BIG WIN...
from page 16.
Over the course of several years,
the condominium association gov-
erning the Belmont (“Association”)
attempted to fix a variety of con-
struction deficiencies that had been
identified and were suspected of
causing the water intrusion issues.
The water leaks continued however,
and in January 2007, the Association
stopped making repairs and filed suit
against Monroe Station and other
parties alleging negligence, fraud
and violations of the Planned Real
Estate Development Full Disclosure Act
and the Consumer Fraud Act (“CFA”).
The matter went to trial where the
testimony focused on the origin and
cause of the water infiltration, with
the Association’s experts attributing
the problem to construction defects
and Monroe Station’s experts blaming
poor or inadequate maintenance.
According to the Association’s
expert, the total estimated cost to
remediate the exterior and interior
of the Belmont was approximate-
ly $1,825,000.00. Conversely,
Monroe Station’s expert estimated
the cost of the necessary repairs to
be $741,000.00. The jury returned
a verdict in favor of the Association,
awarding it $2,186,675 in dam-
ages, with Monroe Station being
responsible for 80% of the dam-
ages ($1,749,340.00). The trial
court then awarded treble damages,
pre-judgment interest, and attorney’s
fees giving the Association a total
judgment against Monroe Station in
the amount of $7,236,677.
Monroe Station appealed the judg-
ment by challenging among other
things, (1) the Association’s standing
to recover for ascertainable losses
of members of the Association who
were not original purchasers; (2) the
Association’s standing to recover for
damages to windows which it argued
were not part of the common ele-
ments; (3) the applicability of the
CFA to the representations made
by Monroe Station, and (4) the trial
CONT I NU E S ON PAGE 20