The Real Deal New York

Hudson Waterfront director pays penalties for improper bonus

Barry Gross played role in sale of 77 acres to Extell and Carlyle Group
February 16, 2010 03:54PM

Barry Gross, the project director for Hudson Waterfront Associates, has paid $130,000 in penalties, according to the New York Post, in connection with an improper $1 million bonus he received for his role in the sale of a 77-acre parcel of land to Extell and the Carlyle Group. Gross, who at one point faced upwards of 20 years in prison for his role in the sale of the $1.76 billion property, which included a stretch of land from 58th to 72nd Streets Along Riverside Boulevard, has apparently “resolved… the case,” according to his lawyer Benjamin Brafman, “with just this payment.” The sale, which closed in 2005, was the biggest real estate deal recorded in history at that time.

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