Williamsburg Contractor Arraigned For Allegedly Stealing Funds From Park Slope Reno

A Williamsburg contractor was arraigned Monday on grand larceny charges for allegedly stealing $318,000 from a Park Slope couple and spending the money on lavish purchases.

Hayk Safaryan, 43, is accused of accepting payment for a major home renovation project on the couple’s brownstone and performing no work, instead spending the funds on luxury purchases, including a Porsche, designer goods, and an AirBnB booking.

Safaryan was arraigned before Brooklyn Supreme Court Justice Danny Chun on February 3 on an indictment charging him with second-degree grand larceny. He was released without bail and is back in court on April 2.

Lawyers representing Safaryan did not return Brooklyn Paper’s request for comment.

According to an investigation by the Brooklyn District Attorney‘s Office, Safaryan, a licensed general contractor at the time, entered into an agreement with the couple in December 2021 to renovate their Park Slope brownstone.

On June 15, 2022, the parties signed a contract outlining demolition, site, and structural work, with the project budgeted at $1.29 million. Two days later, the couple wired a $322,000 deposit to Safaryan’s bank account.

Prosecutors allege that Safaryan spent nearly all of the funds on personal expenses, including a $28,000 down payment for a 2018 Porsche Macan SUV, $17,750 in back rent for his apartment, and thousands of dollars on designer goods from brands like Prada and Alexander McQueen. He also allegedly spent significant sums on hotels, restaurants, bars, and an AirBnB rental in Riverhead, New York.

The District Attorney’s office alleges that Safaryan disbursed only about $4,000 to a company for a site safety plan, leaving the renovation project untouched. It also notes his general contractor’s license expired on February 6, 2023, and was never renewed.

The couple repeatedly demanded their money back, but Safaryan allegedly provided inconsistent explanations for the lack of progress, including claims of an insurance company audit. He reportedly stopped communicating with them entirely by spring 2023. The case was initiated after the couple filed a report with the Brooklyn District Attorney’s Action Center.

“This defendant allegedly lined his own pockets by taking advantage of a Brooklyn family who put their trust in him,” District Attorney Eric Gonzalez said in a statement. “My office will continue to investigate and prosecute fraud in the home improvement industry and seek justice for those who are victimized by criminal conduct.”

Editor’s note: A version of this story originally ran in Brooklyn Paper. Click here to see the original story.

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