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March 10, 2007

Ratner Improperly Acquired Two ‘Footprint’ Properties, State Court Says


Brooklyn Daily Eagle
By Elizabeth Stull

Based on court papers filed for both sides, Justice Ira Harkavy [pictured right] on Tuesday reversed the developer’s 45-year leases to 752-766 Pacific St. and 535 Carlton Ave., (now a six-story building and a parking lot), both in Prospect Heights.

Owner Henry Weinstein had leased the properties to real estate developer Shaya Boymelgreen, which improperly sold those leases to AY 535 Carlton LLC, a company affiliated with Forest City’s Atlantic Yards Project, without obtaining the owner’s consent — as required by the lease agreements.
“My property is not for sale,” Weinstein said. “There is a much bigger issue at stake: The rule of law has to prevail. The whole reason the United States was formed was to get away from the divine right of kings.”


Posted by amy at March 10, 2007 11:26 AM