Law and Order
Leonard Grunstein, a prominent real estate attorney known for his work on the Stuyvesant Town Peter Cooper Village case, pleaded guilty to perjury in the third degree for testimony he gave in a legal battle for control over a portfolio of 170 nursing homes.
As part of the plea agreement, Mr. Grunstein, 61, a former Troutman Sanders attorney who later resigned from the New York State Bar, can never re-apply for re-admission, according to the Manhattan district attorney’s office.
Empire State Building
The New York State Attorney General’s office is reportedly reviewing the Leona M. Helmsley estate’s liquidation of its stake in the properties launched as part of the Empire State Realty Trust REIT last month, which includes the Empire State Building.
The process will begin once the Helmsley estate files a final accounting of the sale Read More
Malkin Holdings has received an unsolicited $710 million offer for One Grand Central Place – another surprise twist that could stifle plans to make the Empire State Building part of a real estate investment trust.
The 1.3-million-square-foot, 55-story building at 60 East 42nd Street is the second largest building in the proposed Empire State Realty Read More
Big Real Estate
Lebanese American University is buying a three-floor office condominium at 211 East 46th Street for $11 million.
LAU, which has campuses in Lebanon but has adjunct operations in Manhattan, will use the roughly 30,000-square-foot space primarily for administrative offices and classroom facilities.
This week The Observer profiled Jeff Sutton, arguably the most powerful retail landlord in New York City. New Yorkers may be forgiven, however, for not knowing his name—Mr. Sutton resides among that nebulous class of real estate moguls who own vast swathes of the city but who have never met a reporter they wanted to talk to.
One of the city’s largest and most secretive landlords, Rubin Schron, has signed more than 17,000 square feet of leases at two elegant slivers of pre-war office space on lower Broadway.
Mr. Schron’s Cammeby’s International has scored three new deals and one renewal at 32 and 42 Broadway. In a 10-year deal, 42 Kopy has taken 4,000 square feet. Caruso Painting & Decorating Corporation signed Read More