Battle heats up over NJ building bought by Ruby Schron

Defendant says plaintiffs nearly blocked the New York investor's $136M winning bid

TRD New York /
Jul.July 17, 2014 02:05 PM

The Montville, N.J. apartment complex that New York investor Ruby Schron purchased last week for $136 million is still causing static between the former owners. Even the judge who presided over the case that put the property on the auction block is being dragged into the fray.

Zygmut Wilf, Minnesota Vikings owner and former part owner of the 764-unit Rachel Gardens, is saying the judge that ordered the sale of the property gave him a raw deal, The New York Times reported. He and his family say Judge Deanne M. Wilson of the New Jersey Superior Court allowed the plaintiffs, his former partners, to make additional claims against him barred by the statute of limitations and accused her of “an anti-wealth bias that gave undue weight to public curiosity.”

Wilson used some strong words herself, saying Wilf “robbed” his former partners, according to the paper.

Wilf added that the sale to Schron nearly didn’t happen because the plaintiffs wanted to sell Rachel Gardens to other buyers before the auction ended, for more than $10 million less than what Schron eventually paid, the Times reported. [NYT]Tom DiChristopher


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