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

By Adam Pincus | June 06, 2012 04:00PM

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.

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.