The Real Deal New York

City officials confirm Luigi Caiola cheated Landmarks: report

Real estate scion accused of soliciting fake letters in support of school expansion

June 27, 2016 09:00AM

Luigi Caiola and Friends Seminary

Luigi Caiola and Friends Seminary at 222 East 16th Street

The city’s Department of Investigations confirmed that real estate scion Luigi Caiola tried to cheat the Landmarks Preservation Commission into approving the expansion of a Gramercy private school.

According to documents reviewed by DNAinfo, Caiola asked eight people to pretend to be neighbors of the school and send letters to the commission in support of the expansion of the Friends Seminary at 222 East 16th Street. Caiola’s children attend the school.

The commission approved the school’s plans for a $67 million expansion of its campus last year.

According to a memo viewed by DNAinfo, the department sent its findings to the Manhattan District Attorney’s office on April 28, which may mean a criminal investigation could follow.

Caiola did not respond to the website’s requests for comment.

Caiola is the son of Benny Caiola, the late real estate developer and founder of B + L Management. In August, Fairstead Capital and Blackstone Group acquired 24 Manhattan rental buildings from the Caiola family for $690 million. The firms have begun marketing a piece of that portfolio. [DNAinfo]Konrad Putzier

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