Penny-Pinching Broker Concealed Salary to Get Discount on Manhattan Apartment

CC0 / / Manhattan, New York
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The Douglaston Development company has won its case against David Sans and evicted the wealthy stockbroker from the affordable apartment in Ohm rental tower in Chelsea.

Stockpicker David Sans claimed a $24,000 salary (a year) to win an upmarket, low-rent apartment inside the luxe Ohm apartment tower on Manhattan shortly before confirming a salary of $238,000 on his tax forms.

Judge Stoller affirmed Sans' "sizable under-reporting of his income implicates his eligibility to be a tenant in the subject premises and constitutes a material misrepresentation." The court ruled that Sans lacked a valid explanation for why his income grew on different filings and ordered him to move out.

David Sans received the apartment with only $722-a-month rent, instead of $4,000-a-month, due to special "moderate" rates offered by Douglaston Development on 20% of the apartments in Ohm rental tower in order to avoid paying property taxes for 20 years. 

READ MORE: Lawyers Clash in Manhattan Court Over Trump's Right to Block Twitter Users

Sans was one of 160 high-income residents caught by New York State Comptroller Thomas DiNapoli last year renting subsidized apartments meant for low-income earners.

Only low-income applicants are eligible for the "affordable" apartments and they must provide evidence of their income to qualify.

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