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March 8, 2007
Judge Rules Forest Ratner Acquired Building Illegally
The NY Sun
By Eliot Brown
The developer of Brooklyn's Atlantic Yards project hit an obstacle yesterday when a judge stripped the company of an acre of land.
A New York Supreme Court judge ruled that the firm Forest City Ratner wrongly acquired the lease on a large concrete office building on the site of the planned $4 billion mixed-use project. The tenant of the commercial space, Brooklyn developer Jeshayahu Boymelgreen, was faulted for transferring the long-term lease to Forest City without approval from the building owner.
"They knew going in that they were committing an illegal act," building owner Henry Weinstein, who is also a plaintiff in a federal suit against Forest City Ratner, said.
Posted by lumi at March 8, 2007 9:27 AM