This action arises out of the construction and financing of the three-phased Clermont condominium project in the Village of Nyack, Rockland County. In 1985, defendant Nyack Waterfront Associates (hereinafter NWA) acquired a 5.7-acre tract along the Hudson River for purposes of development. Phase I of the project, which encompassed approximately two acres of the tract, was constructed from 1985 to...
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