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

Steve Silverberg claimed that his once profitable portfolio went into financial freefall
June 12, 2019 10:15AM

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