Harry Macklowe and 510 Madison Avenue

A New York State Supreme Court judge conditionally blocked the eviction of Jay Goldman, one of the city’s largest hedge funds, from Harry Macklowe’s speculative office tower at 510 Madison Avenue, and will allow the dispute to go to trial based on the failure to properly build out the tenant’s office space. Manhattan-based Jay Goldman filed suit earlier this year alleging that Macklowe locked it out of the building following a three-alarm blaze, and that it previously refused to pay rent because the developer failed to install fire alarms, sprinklers and other required systems in the building. Judge Doris Ling-Cohan ruled that Goldman will be able to block the eviction pending the payment of nearly $133,000 in rent and signing a “floor designation notice” that establishes the hedge fund will lease the building’s 19th floor, which has 11,500 square feet of space. [more]