Harry Macklowe seeks to oust $244.37-a-month renters

The 737 Park residents are members of the Katz real estate family

New York /
May.May 23, 2015 12:00 PM

Billionaire developer Harry Macklowe is waging a $9.7 million legal battle over a $244.37-a-month Park Avenue apartment.

Macklowe’s case is against three siblings from the Katz real estate family — Laura Goldblatt, Seth Katz and Tracy Edwards — who inherited the lease on a 17th-floor three-bedroom unit at 737 Park Avenue, according to the New York Post.

Last year, Macklowe filed a suit against another member of the family on the 19th-floor.

Macklowe purchased the Lenox Hill building in 2011 and is converting the 20-story residential tower to condos. He hopes to force the family out with the hopes of selling their apartment for $9.7 million, according to Their Court papers cited by the Post.

Macklowe argues that none of the heirs even live in the city, and they have been “illegally profiteering” by subletting the apartment for $10,000 a month, he claims.

The siblings argue that Macklowe previously made a deal with them to allow sublets. The agreement states that the Katzs control the 17th-floor unit until the last of their two surviving aunts, who also calls the building home, dies.

“The tenant should not be allowed to rent out the apartment at a profit relative to his or her own rent, and thus use the apartment instead as a money-making machine,” Macklowe says in the suit. [NYP]Christopher Cameron


Related Articles

arrow_forward_ios
Former Newmark brokers Christopher Cowan, Shane Ozment, and Terrance Hunt (CoStar)
Ex-Newmark brokers appeal 1-year ban after judge upholds noncompete
Ex-Newmark brokers appeal 1-year ban after judge upholds noncompete
Children’s Magical Garden at at 157 Norfolk Street (Google Maps, Facebook)
Children’s Magical Garden claps back against developer who claimed defamation
Children’s Magical Garden claps back against developer who claimed defamation
Illustration of Zillow CEO Richard Barton (Getty, iStock/Illustration by Kevin Rebong for The Real Deal)
Zestimate: These two Zillow iBuying lawsuits won’t be the last
Zestimate: These two Zillow iBuying lawsuits won’t be the last
5 East 59th Street (Google Maps, 5e59.com)
Singapore bank sues to foreclose on ex-Playboy Club building
Singapore bank sues to foreclose on ex-Playboy Club building
 Adam Leitman Bailey with 6 Turtle Knoll in Monroe (Adam Leitman Bailey Law Firm, Trulia)
NY foreclosure ban does not apply to shell companies, judge rules
NY foreclosure ban does not apply to shell companies, judge rules
Eighty Seven Park and Champlain Towers South (Getty)
Lawsuit blames construction next door for Surfside collapse
Lawsuit blames construction next door for Surfside collapse
Photo illustration of Harry Macklowe and Linda Macklowe (Getty/Illustration by Kevin Rebong for The Real Deal)
Buyers go bonkers as Macklowe art auction fetches $676M
Buyers go bonkers as Macklowe art auction fetches $676M
A-Rod, ex-brother-in-law skip trial, settle dispute over multifamily empire
A-Rod, ex-brother-in-law skip trial, settle dispute over multifamily empire
A-Rod, ex-brother-in-law skip trial, settle dispute over multifamily empire
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...