Forest City Ratner says that the judge’s decision invalidating its control of two properties in the Atlantic Yards footprint will be appealed. An e-mailed statement on Wednesday afternoon reads:
“We cannot comment in detail on the decision today because the suit did not directly involve Forest City Ratner Companies (FCRC), said Jeffrey Braun, an attorney for Forest City Ratner. “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. The decision issued today by Judge Harkavy says that he did not. 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.”
– Matthew Schuerman
Correction: An earlier post said that Forest City would appeal the ruling. Since the case is between the landlord and leasee (which then tried to sell the lease to Ratner), the development company has no direct role in the litigation. It will be the leasee, Shaya Boymelgreen, who will appeal.