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March 9, 2007
Little guy beats Ratner in not-so-little case
The Brooklyn Paper
By Dana Rubenstein
A state judge has ruled that a back-room deal between Bruce Ratner and another big-time developer for control of a key piece of real estate in the Atlantic Yards footprint was “improper.”
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Weinstein had rented office space in the building to developer Shaya Boymelgreen — but then Boymelgreen sold his 48-year lease to Ratner, a deal that paved the way for the building to be condemned by the state for Ratner’s benefit.But Harkavy ruled that Boymelgreen had no right to transfer the lease without Weinstein’s permission.
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The ruling means that control of the building returns to Weinstein, who is one of 13 tenants and property owners that are suing Ratner and state officials over the wrongful use of eminent domain to clear land and turn it over to Ratner.
Guess what?
Forest City Ratner would not comment on the judge’s decision.
Boymelgreen goes negative on Weinstein:
“We’ll appeal, of course, and that will take a long time,” added Boymelgreen. “[Weinstein] always wants a dollar more. … When the lawyers start costing him more than he’ll get, then he will stop.”
Posted by lumi at March 9, 2007 10:02 AM