The Real Deal New York

Icon’s $525K UWS tenant buyout goes sour

Icon Realty Management refuses to make a final payment to a now deceased tenant

April 12, 2015 10:15AM

Icon Realty Management's Terrence Lowenberg and Todd Cohen and

Icon Realty Management’s Terrence Lowenberg and Todd Cohen and 350 West 71st Street

Upper West Side landlord Icon Realty Management has landed in court over a deal it made with a now deceased tenant in a condo conversion.

Icon plans to convert a rental building at 350 West 71st Street to condos, and it offered long-time resident Walter Blomeyer $525,000 to leave his studio. Blomeyer, a black-car driver, accepted the deal, but died sometime after. Now, the landlord is refusing to pay up, according to the New York Post.

Icon modified the deal sometime before Blomeyer’s death, paying Blomeyer $300,000 and allowing him to live in an adjacent SRO building rent-free for a year before giving the final $225,000. Now, the landlord is refusing to make the final payment.

“This is bullying,” lawyer Ted Poretz told the Post. “There’s nothing at all in this agreement that says, ‘We don’t have to pay him when he dies.’”

However, Icon’s lawyer claims that they never agreed to pay the man’s estate.

“The agreement said nothing about his estate benefiting,” lawyer Mitch Kossoff told the Post. “His estate is entitled to nothing.” [NYP]Christopher Cameron

  • Marc

    I would love to see that contract. It should state “successors & assigns……..”, and even if it doesn’t I don’t see how these guys have a case but I’ve never seen this before. There must be some sort of precedent in a case like this.

    • BH

      They’re being sued by Robert AM Stern too…..the list goes on with Icon

    • Guest

      ➯➯➯➯➯I RECEIVED FIRST DRAFT OF $13000!@ak10:




  • Anon resident

    Icon has to be one of the worst managing agents. These kids would kick their own mother out of their apt.