Dueling Soho developers beef over unobstructed views

Agime Group accuses Madigan Development of using DOB to block project

New York /
Apr.April 05, 2017 03:10 PM

Building a condo tower with 360-degree views is any developer’s dream. But what if the owner of the lot next door has the exact same idea?

That, in a nutshell, is what a new legal duel between Agime Group and Madigan Development is all about. Agime wants to build a 25-story, 287-foot-tall tower at 568-570 Broome Street in Hudson Square. Madigan wants to build a 290-foot tall apartment building next door at 111 Varick Street. Now Agime filed a lawsuit against the neighboring developer accusing it of trying to sabotage the rival project to preserve its own building’s views.

Agime, headed by Murat Agirnasli, is able to build 287 feet tall because the Department of Buildings designated the area in front of 570 Broome a so-called Wide Street, which increases the building’s maximum allowable height. According to a complaint filed in New York State Supreme Court on Tuesday, Madigan wrote to the DOB challenging the Wide Street designation and plans to appeal a ruling that upheld the designation. If Madigan gets its way, Agime will only be able to build 185 feet tall.

Agime alleges that Madigan wrote to the DOB in violation of a zoning lot development agreement prohibiting such interference because it wanted “to provide unobstructed views to the units on the upper floors of its building.”

Agime paid $31 million for the lot in 2014 and dished out another $10.2 million for air rights, according to a previous report and the complaint. Construction is already under way.

Agime’s attorney and Madigan did not respond to emails seeking comment.

The two firms aren’t the first developers to bicker over views. Extell Development threatened to block Vornado Realty Trust’s condo project 220 Central Park South because it would have blocked views from Extell’s Central Park Tower project. The two sides settled their dispute in 2013 by each agreeing to move their projects a little to the side.


Related Articles

arrow_forward_ios
These are the tallest towers underway in NYC
These are the tallest towers underway
in NYC
These are the tallest towers underway
in NYC
A new competition asks what would houses on Mars look like (Credit: Getty Images, Pixabay)
Architecture’s final frontier: Here’s what houses on Mars might look like
Architecture’s final frontier: Here’s what houses on Mars might look like
From left: John Perez, Christian Amato and Nathalia Fernandez in front of Jacobi Hospital in the Bronx (Getty Images, JacobiPeds.org, ChristianAmato.com, John Perez)
Political candidates band together to oppose affordable housing proposals
Political candidates band together to oppose affordable housing proposals
Arlington Village at 3100-3124 Atlantic Avenue in East New York, Brooklyn (Google Maps, Getty)
Developing in downtrodden areas gets dicey
Developing in downtrodden areas gets dicey
800 East Main Street and AMS Acquisitions' Avi Abadie (Town of Yorktown, LinkedIn)
Luxury senior housing proposed for vacant Westchester office
Luxury senior housing proposed for vacant Westchester office
D&F Development Group’s Peter Florey and the development site at the northwest corner of Pulaski and Elwood Roads in East Northport (D&F Development Group, Google Maps)
Four decades in making, East Northport project clears key hurdle
Four decades in making, East Northport project clears key hurdle
From left: Century Development's Group’s George Xu and City/Rybak Development’s Sergey Rybak with 78-29 Austin St./11-36 45 Road
Rybak, Century file to build Queens multifamily projects
Rybak, Century file to build Queens multifamily projects
ZappiCo's Jim Zappi and Pocantico Lake (ZappiCo Real Estate Development, Google Maps)
Developer wants 29 waterfront homes; Nimbys want none
Developer wants 29 waterfront homes; Nimbys want none
arrow_forward_ios

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

Loading...