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New York

On hold: $100M payout for executors of Helmsley will

Attorney General's charity division to review how $5B portfolio was handled

Empire State Building and Leona Helmsley
Empire State Building and Leona Helmsley

The New York Attorney General’s office has delayed a $100 million payout being sought by the executors of real estate heiress Leona Helmsley’s estate amid an investigation.

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In June, the four men requested $25 million apiece for seven years of service, including management of a portfolio of 84 buildings in 17 states and the settlement of several lawsuits. Schneiderman has assigned a charity division to review documents showing how the executors handled $5.4 billion in assets over the next several months. The executors and Schneiderman are expected to meet again in court in November.

The Real Deal reported last year that the AG’s office would review the Helmsley estate sales. A spokesperson for the office told the New York Post  that the delay is routine but important given the complexity of the Helmsley estate. [NYP] — Mark Maurer

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Eric SchneidermanLeona Helmsley