« Essence of the Architect | Main | City Council candidates don't support AY project »
May 9, 2009
It Came From the Blogosphere: Appeals Court Ruling
Two blogs note of yesterday's state appeal court ruling in favor of developer and Atlantic Yards footprint property owner Henry Weinstein.
Curbed - Atlantic Yards Loses One
Because one oft-criticized developer being involved in Atlantic Yards just wasn't enough, an appeals court has upheld a judge's 2007 decision that Brooklyn kingpin (and occasional Manhattan dabbler) Shaya Boymelgreen improperly sold his lease to a Pacific Street building within the project's footprint to AY developer Forest City Ratner. What does this mean? Atlantic Yards Report explains: "The ruling can't stop the state from using eminent domain to take the properties, but it might make it more costly."
The Local - Court Ruling Could Slow Atlantic Yards
This just in from Atlantic Yards Report: In a rare court ruling unfavorable to Atlantic Yards, a state appeals panel has upheld a lower court’s 2007 ruling that invalidated Forest City Ratner’s long-term lease on two properties in the project’s footprint.The ruling could pose another hurdle for the developer at a moment when the project is already being held up by the recession. The earlier decision found that the developer Shayna Boymelgreen, who is a tenant at a one-acre site on Pacific and Carlton that includes a six-story building and a parking lot, sold his lease to Forest City without his landlord’s permission. The landlord, Henry
Weinstein, is challenging the state’s right to condemn property under eminent-domain law, so Mr. Boymelgreen’s sale of the lease to Forest City would have allowed Forest City to do a partial end run around Mr. Weinstein.
Posted by steve at May 9, 2009 7:53 AM