Sheldon Solow Sues (Again) Over GM Building as Sale Nears

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My, Sheldon Solow is busy these days.

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It’s now the 11th hour for his $4 billion East River development, which faces an up or down vote before the City Council tomorrow; and best and final bids are due tomorrow for one of the country’s most watched skyscrapers, the GM Building, a tower Mr. Solow claims he rightfully owns.

With debt-troubled owner Harry Macklowe seemingly closing in on a sale, now Mr. Solow, one of the more litigious individuals in the city, has filed another lawsuit against the former owner of the GM Building, Conseco Inc., claiming its $1.4 billion sale to Mr. Macklowe in 2003 was invalid. This adds to a suit he has out against Conseco that claims the company unfairly gave the building to Mr. Macklowe and violated the terms of its auction. In January, Mr. Solow was given the green light by a judge to proceed on that suit.

The most recent suit, filed last night, claims that the deed transferring the property to Mr. Macklowe was invalid, missing crucial information about the seller. He accompanied his suit with a sworn affidavit by a real estate attorney who claimed the deed was indeed invalid. From the suit:

“In furtherance of this ‘inside deal,’ defendants executed a bogus bargain and sale deed that is invalid and a nullity by virtue of its failure to comply with the most rudimentary requirements of New York real property law. Accordingly, title to the Building remains with Conseco and has not conveyed to Macklowe.”

A spokesman for Mr. Macklowe declined to comment on the lawsuit.

Sheldon Solow Sues (Again) Over GM Building as Sale Nears