Jamie LeFrak, heir to New York real-estate development giant the LeFrak Organization, has to deal with being labeled a rich “blowhard,” an appeals court ruled this week.
On Monday, a three-judge panel of New Jersey’s Appeals Court OK’d a $4.8 million judgment against LeFrak, despite the wheeler-dealer’s complaints about being painted as a wealthy “blowhard” in front of the jury that decided the award.
The ruling is the latest victory for 16 condo owners who accused LeFrak, 40, of defrauding them when they bought apartments at the fancy South Shore complex in Jersey City.
Tenants argued that they coughed up extra cash for the luxury apartments based on promises by salespeople and marketing materials that they would get “breathtaking” and “unparalleled waterfront views” of the Hudson River and Manhattan skyline.
But behind the scenes, LeFrak’s real estate company was working on a 31-story high-rise to be built in front of South Shore, blocking the views.
LeFrak appealed the 2011 jury award on the grounds that the condo owners’ lawyer, Keith Biebelberg, made inflammatory remarks during the trial that “attacked the character of James LeFrak.”
The judges said the remarks were “fair” given the evidence. “While the term ‘blowhard’ may have been ill-advised, it clearly referenced LeFrak’s bragging and boasting about the ‘surprising views’ … at the same time plans were moving ahead to build the 31-story Aquablu.”
The judges also OK’d comments on LeFrak’s wealth as fair.
Neither LeFrak, whose family is worth $6.1 billion, nor his lawyer returned a request for comment.