A lawsuit filed today alleges the Moinian Group improperly charged market-rate rents at a FiDi tower while receiving tax benefits. At 90 Washington Street, where the Moinian Group holds the ground lease, tenant Chad Vignola alleges that he and as many as 500 others were not provided with rent-regulated leases, despite the landlord getting a tax break known as 421-g. The complaint argues the tenants are entitled to monetary damages, interest, and at least $500,000
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Troubles in the retail world aren’t going away anytime soon — and retailers have themselves to blame. That’s according to Starwood Property Trust CEO Barry Sternlicht, who spoke at Tuesday’s fourth-quarter earnings call. During the call, Sternlicht recounted a visit to a new clothing store on Lincoln Road in Miami. Sternlicht said he walked around the store and couldn’t find a basic item — shorts — in a medium size. He said retailers then send
The post Sternlicht on retail’s woes: Tenants have done “incredibly shitty job” running stores appeared first on The Real Deal New York.
In another setback for the would-be developers of four towers in Manhattan’s Two Bridges neighborhood, a judge has ruled against them in the second of three lawsuits facing the development. The latest decision, on a case brought by a group of residents and local organizations last March, was delivered by the same Supreme Court judge who ruled last summer that the three separate projects must go through the city’s exhaustive land-use review. The de Blasio