(http://www.zwire.com/site/tab7.cfm?brd=2384) 03/10/2007 Ratner suffers setback in Supreme Court - Judge rules in favor of local property owner By Stephen Witt As this paper went to press, the New York State Supreme Court ruled in favor of property owner Henry Weinstein in a dispute over several of his properties in the footprint of the Atlantic Yard project.
Advertisement Judge Justice Ira B. Harkavy ruled that Weinstein’s long-term tenants, real estate developer Shaya Boymelgreen, improperly assigned their lease to Forest City Ratner Companies (FCRC) for the properties at 752-766 Pacific Street and 535 Carlton Avenue. The decision permits Weinstein to regain full control of his properties. In court filings, Weinstein said that FCRC never made him a firm offer for his properties, and that FCRC implied that if he did not sell, the Empire State Development Corporation would take the property through eminent domain. Weinstein is also one of the plaintiffs in a lawsuit to stop the use of eminent domain to proceed with the $4 billion project. “I’ve always believed in the rule of law,” Weinstein said following the decision. “I’m pleased that the truth prevailed today, and I am confident that my co-plaintiffs and I will win our challenge to Ratner’s unconstitutional use of the power of eminent domain,” he added. Boymelgreen could not be reached for comment at press time. FCRC attorney Jeffrey Braun said the company cannot comment in detail on the decision because the suit did not directly involve the company he represents. “FCRC purchased the leases for the property in question from another developer. That developer of course believed he had the right to sell those leases under his contract with the landlord, as is often the case with leases such as these held for extended periods of time,” said Braun. “The developer has advised us that he will appeal the decision. Finally, we do not believe that this decision will have any impact of the project and are continuing with the preparatory work begun last week,” he added. (http://kt4.kliptracker.com/klipinsert4.tux?campid=42648&id=778081159789742100&ktaction=100&ad_id=1&redir=http://www.arizonaguide.com) ©Courier-Life Publications 2007 NEWS AND INFORMATION WITH A UNIQUE TWIST The Brown Report on the Electric News weeknights a 7 est._www.electricnews.com_ (http://www.electricnews.com/) <BR><BR><BR>**************************************<BR> AOL now offers free email to everyone. Find out more about what's free from AOL at http://www.aol.com.
