Tishman Speyer pays out $25M to Hudson Yards holdouts

"Most feared tenant attorney" David Rozenholc strikes again

TRD New York /
Oct.October 06, 2015 08:32 AM

A pair of dogged, enterprising tenants – or system-exploiting jerks, depending on your point of view – won a massive settlement from Tishman Speyer for finally vacating their West Side pad.

Gary Schwedock and Steven Kobrick, who lived at 10th Avenue and West 35th Street in the heart of the emerging Hudson Yards project, received $25 million from the developer after refusing to vacate and deploying veteran tenant lawyer David Rozenholc.

To win the settlement, Rozenholic employed grinding delay tactics. Tishman, he said, was right to concede.

“I would have taken the next step and come up with another argument. [Even] if [the developer] wins every step of the way, it will take them five years,” he told Crain’s.

Rozenholic, indeed, has a reputation for this sort of thing.

“He’s the most feared tenant attorney with respect to development sites,” said Magnum Real Estate Group’s Ben Shaoul. “I don’t think he has ever lost a case.”

Tishman bought the surrounding area in two separate deals for $438 million in April 2014, with plans to build a 61-story office tower at a cost of $3.2 billion[Crain’s]Ariel Stulberg


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Facebook CEO Mark Zuckerberg and Hudson Yards (Credit: Getty Images and Wikipedia)

Facebook close to finalizing Hudson Yards office deal: report

SL Green’s locks in big bank lease at Hudson Yards redevelopment site

SL Green’s locks in big bank lease at
Hudson Yards redevelopment site

461 West 34th Street with Marx Development Group's David Marx (Credit: Google Maps)

David Marx lands $202M refi for Hudson Yards hotel

50 Rockefeller Plaza and Katten's Chris DiAngelo (Credit: Google and Katten)

Katten law firm moving to Rockefeller Center

Clockwise from the top left: Jackson Park at 28-40 Jackson Avenue, 240 Willoughby Street in Fort Greene, 664 Pacific Street in Brooklyn, and 247 Metropolitan Avenue in Williamsburg (Credit: StreetEasy, Google Maps, Pacific Park Brooklyn, The Pod Hotel)

These were the top 10 outer-borough loans last month

Jackson Park at 28-40 Jackson Avenue and Tishman Speyer's Rob Speyer (Credit: StreetEasy and Tishman Speyer)

Tishman Speyer locks in $1B in financing for Jackson Park

15 Hudson Yards (Credit: Related-Oxford, iStock)

First he sold a plot of land to Hudson Yards’ developers. Now he owns 7 luxury condos there

arrow_forward_ios