Judge Rules Ratner Obtained Properties Illegally
A New York Supreme Court Judge ruled yesterday that Forest City Ratner had illegally obtained the lease to the six-story office building at 752 Carlton Avenue as well as an adjacent parking lot on Pacific Street. The judge ruled that Shaya Boymelgreen violated his lease agreement with owner Henry Weinstein when he transferred the 48-year…
A New York Supreme Court Judge ruled yesterday that Forest City Ratner had illegally obtained the lease to the six-story office building at 752 Carlton Avenue as well as an adjacent parking lot on Pacific Street. The judge ruled that Shaya Boymelgreen violated his lease agreement with owner Henry Weinstein when he transferred the 48-year lease to FCR without Weinstein’s sign-off. The contracts, the judge said, stated clearly and unambiguously that the leases could not be transferred without Weinstein permission. It turns out that Boymelgreen made one attempt to get Weinstein’s approval — but sent the request to the wrong address. Weinstein says that FCR had to have known it needed his approval. If you’re buying a lease from somebody and you have thousand-dollar-an-hour, 800-pound gorilla lawyers retained to protect your interest, he said, I tend to think that they read the lease and realized that they knew that what they were doing was illegal. FCR is acting like the unfavorable ruling doesn’t matter. “We do not believe that this decision will have any impact on the project and are continuing with the preparatory work begun last week,” a Ratner lawyer said. FCR will appeal the ruling.
Atlantic Yards Loses Lease to Part of Site [NY Times]
Judge Rules Forest Ratner Acquired Building Illegally [NY Sun]
Ratner To Appeal Atlantic Yards Ruling [The Real Estate]
Judge Raps Boymelgreen, Ratner in AY Lease Dispute [AY Report]
you have no idea what it’s going to look like. and with frank gerhry’s name attached to this, it is certainly going to be above average. whether you hate him or not, he IS one the greatest living architects.
i don’t see the need for all the pessimism. it’s going to be similar to battery park…with a little more density and an arena. it’s good for brooklyn as a whole. this isn’t just about you.
Nothing comes close to the density of AY and that is the problem. An arena — fine. Housing — we all want even if it will not be affordable for most. But the density of both is overwhelming. This is not like anythign else in any other city. (That, and it will look like a glorified public housing project when it’s done if any of Ratner’s previous work is an indication.)
brooklyn may not be chicago, but chicago is the 3rd largest city in the country and brooklyn would be 4th on its own. both are and have been primarily blue collar middle class cities, so why the nastiness? i can see it. i also think the baltimore example is a very good one.
what we really have here instead of anti-ay and pro-ay are glass half full and half glass empty debates. i prefer to stick with my glass half full.
here’s another example for you. the development of the inner harbor in baltimore and the subsequent building of camden yards (of which many stadiums in the country have tried to emulate) now stands as one of the cornerstone neighborhoods in baltimore and has triggered a large swath of that city to revitalize the areas surrounding it. it IS possible that the same might be true here in brooklyn.
not a bad example now that i think about it. brooklyn and baltimore have a lot in common, in my opinion.
how can it be an excellent point when critics and opponents are referring NYC stadiums in surrounding NYC area?
Last I checked Brooklyn is not Chicago and it’s especially not Phoenix.
Actually, Stanley R., you make an excellent point, and one that I had not thought of. The area adjacent to Wrigley Field in Chicago is very nice – lots of bars, restaurants, etc. For those old enough to recall, the area surrounding Ebbets Field was also a great place to live.
map quest not saying that at all. but all critics assume stadium= downfall of a community. each of the three nyc stadiums were built under different circumstances.
Stanley why would the critics be wrong if they are mentioning stadiums within NYC?
Your examples to me are like saying there’s a stadium in Timbuktu and the area is very desirable now.
11:31 News flash DDDB is broke.