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March 8, 2007

Landowner wins vs. Ratner

NY Daily News
By Jotham Sederstrom

A property owner threatened by the Atlantic Yards project enjoyed a victory after a judge ruled that two of his leases were improperly acquired by the developer, Forest City Ratner.

Property owner Henry Weinstein can keep his six-story building and a parking lot on Carlton Ave., Supreme Court judge Ira Harkavy ruled Tuesday.
Weinstein leased his property to Brooklyn developer Shaya Boymelgreen in 1999, but he didn't expect Boymelgreen to sell the leases to Forest City Ratner, Weinstein said.

Weinstein, a critic of the Atlantic Yards project, never gave consent to the deal between Boymelgreen and Ratner, which would have allowed the latter to hold onto the leases until 2048.

"We believed from the beginning that Ratner and Boymelgreen had no right to do what they did, so this decision is no surprise," said Candace Carponter, a member of the opposition group Develop Don't Destroy Brooklyn. "As far as I'm concerned, this decision is unassailable upon appeal."

Ratner's lawyer Jeffery Braun informed the News, "The developer [Boymelgreen] has advised us that he will appeal the decision," and "We do not believe that this decision will have any impact on the project, and are continuing with the preparatory work begun last week."


Posted by lumi at March 8, 2007 8:50 AM