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New York

This month in real estate history: Chanin buildings hit with real estate tax fraud

From the June issue: Prosecutors charged two real estate corporations affiliated with renowned Art Deco–style developer Irwin Chanin of fraud in obtaining property tax reductions, 38 years ago this month.

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Prosecutors claimed the corporations failed to pay $138,549 in taxes over three years for the 1929 Chanin Building, a 56-story office tower at 122 East 42nd Street — kitty corner from the Chrysler Building — and the 30-story Century Apartments at 25 Central Park West. Both are now city landmarks.

A prolific architect and developer who died in 1988, Chanin built the Lincoln Hotel (now the Milford Plaza Hotel), as well as more than a half-dozen Popular Broadway venues and the famed 6,200-seat Roxy Theater. His soaring twin-towered Majestic Apartments at 115 Central Park West is also a city landmark. Click here to read these stories and more.

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Real Estate History