Manhattan landlord accuses sister of bilking him out of $7M

Steve Silverberg claimed that his once profitable portfolio went into financial freefall

New York /
Jun.June 12, 2019 10:15 AM
1313 Third Avenue (Credit: Google Maps)

1313 Third Avenue (Credit: Google Maps)

Sometimes family disputes arise out of long-held grudges, or differences. But for landlords, the stakes can be higher.

In the case of Steve Silverberg, an owner of multiple Manhattan properties, he claims that his sister Penny Silberberg (she spells it differently) has bilked him out of $7 million and then transferred the money to other family members and employees, according to the New York Post.

The pair own properties housing NYU Langone Medical Center and Citarella Market, including an Upper East Side rental building at 1313 Third Avenue.

According to the complaint filed in New York State Supreme Court, Silverberg said he noticed in October that his rental income from the property portfolio had been almost depleted, when once it had generated six figure sums per month.

He claims that his sister had been transferring monies from the account to other employees and family members, including one niece who allegedly used the proceeds to lease a 2016 BMW SUV.

Silverberg is seeking $15 million in damages, and the $7 million he claims to have lost. [NYP] — David Jeans 


Related Articles

arrow_forward_ios
City law protecting commercial tenants upheld on appeal
City law protecting commercial tenants upheld on appeal
City law protecting commercial tenants upheld on appeal
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
arrow_forward_ios

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

Loading...