The Real Deal New York

Feil family feuds over $7B empire

Sisters accuse Jeffrey Feil of engineering a takeover

September 03, 2013 08:51AM

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From left: Jeffrey Feil, 445 East 80th Street, Gertrude Feil and Louis Feil

From left: Jeffrey Feil, 445 East 80th Street, Gertrude Feil and Louis Feil

A feud has broken out within the ranks of the mighty Feil family, with the four heirs of late real estate mogul Louis Feil battling in court for control of his $7 billion-plus portfolio.

Jeffrey Feil was tapped by Louis to steer the organization, while ownership is split evenly between him and his three sisters, Marilyn Barry, Judith Jaffe, and Carole Feil. In papers filed in Nassau County Surrogate’s Court, the sisters accused their brother of depriving them of cash in order to engage in a takeover at a discount.

Feil has responded by saying that they receive plenty of money and that he is running the business in a manner suitable to his father’s memory, according to court papers seen by the Wall Street Journal.

“The binding of the book became loose when my father died,” Jeffrey Feil told the newspaper, referring to his relationship with his siblings. “The pages fell out after my mother died.”

Neither he nor his sisters would comment to the Journal about the litigation.

“It would make my father sick if he knew what was happening to us,” Carole Feil said.

The Feil Organization is one of the city’s oldest family-owned real estate firms, and owns and operates more than 26 million square feet of residential, retail and commercial office space. Properties include the Fred F. French building, an office tower at 551 Fifth Avenue at 45th Street; 4 Park Avenue, a pre-war rental building at 34th Street; and 570 Lexington Avenue, a 450,000-square-foot office building at 51st Street. [WSJ]  – Hiten Samtani

  • New Years Wishes

    Jeffrey Feil is a very decent and good man. I hope he resolves the issues with his siblings and they can forgive each other and move on as a family. His quote about the book binding and pages is really quite sad and it sounds like his sister Carole is equally disappointed with the ways things are now. Lets hope for peace for this generous family

  • JK

    they are all a bunch of scumbags #1 is Jeffrey does not even take care of his family I bet he treats his employees bad he is a cheap and ignorant person and all his thugs like Ratner, Anderson ect do his dirty work

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