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October 12, 2009
Boymelgreen faces eviction from his Brooklyn HQ
Harry Weinstein, owner of the Pacific Street building housing developer Shaya Bymelgreen's offices, says the troubled developer is $200,000 behind in his rent.
Crain's NY Business
by Theresa Agovino
Embattled developer Shaya Boymelgreen could be evicted from his American corporate headquarters in Brooklyn as early as Tuesday after failing to pay about $200,000 in rent and losing a court case involving Forest City Ratner's attempt to assemble the land for its Atlantic Yards project.
On Oct. 8., the Brooklyn Sheriff's office slapped a five-day eviction notice on 752 Pacific St., which Mr. Boymelgreen began leasing in 1999. The 90,000-square-foot building, which lies with the Atlantic Yards footprint, is owned by Harry Weinstein.
Mr. Weinstein said he sued Mr. Boymelgreen in 2006 after learning the developer sold his 40-year lease on the building to Forest City Ratner without Mr. Weinstein's knowledge. Forest City needs to raze the building so it can construct its project on the rail yards, which is slated to include an arena and 16 residential towers. In May, the New York state appeals court ruled that Mr. Weinstein could evict Mr. Boymelgreen and that Forest City was given illegal assignment to Mr. Weinstein's properties. Mr. Weinstein said Mr. Boymelgreen hasn't paid rent since June.
Posted by eric at October 12, 2009 4:47 PM