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Rosen’s Billionaires Row Dev Faces Holdout Neighbor

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Rotem Rosen with antenna (left) and 124 East 57th Street diagram (ODA architecture, Google Maps)

Already this year, the best developers have fought Holdout tenant When Holdout seller — But what about your holdout neighbors?

Founded by Anand Mahindra, Rotem Rosen and Jerry Rotunda, MRR Development is Spent almost $ 100 million for four years Build a 10-lot assembly on the corner of Lexington Avenue between East 56th and 57th Avenues. However, before joining the Billionaires Row glass giant, developers need access to a crouching building on 124 East 57th Street, at the western end of the aggregate.

According to an immigration application filed with the New York Supreme Court, the owner of the building is not playing the ball.

For projects such as MRR’s 28-story, development designed with the ODA architecture, the New York Building Code requires a pre-construction survey to document the condition of all adjacent buildings. The company also needs temporary access to its neighbor’s building to install nets and building protection to keep it and passers-by safe during construction. The city does not allow MRR to proceed with the project without these protections. Also, according to court filings, the neighbor was not a neighbor.

After months of futile negotiations, the MRR is now asking the court to grant access to its neighbor’s structure so that it can conduct pre-construction investigations and carry out construction.

Filing depicts a persistent and repetitive negotiation between two buildings, read as something from the movie “Groundhog Day.” When the lawyer of each building owner negotiated the terms of the access contract, the MRR lawyer repeatedly sought the views of his counterparts. However, according to an email thread shared in the proceedings, he did not reply.

In one example, the developer’s lawyer asked for comments on the draft contract four times between April 4th and April 19th. Bension DeFunis, Solil Management’s internal council working as a neighbor’s lawyer, quotes the Passover festival as an emergency for delays. DeFunis finally sent his comment on May 19th.

“We just rejected almost 100% of the project owner’s edits on a large scale,” wrote Eric Traman, a lawyer for Quinn McCabe on behalf of MRR, in a letter to De Funis. “The edits you make are just a return to the first draft, with no substantial progress and with some backward progress.”

Neither lawyer responded to the request for comment.

Thorsen further said the project couldn’t wait any longer and threatened to seek a court order license. It caught the attention of DeFunis as a lawyer called in early June to come up with an agreement. However, the two sides could not agree on a monthly access fee, and DeFunis demanded more than $ 4,000 a month more than MRR’s best offer.

The case must feel déjà vu, as the MRR had previously persuaded the court to grant access to adjacent buildings during the project’s demolition stage after the owner was “irrational” during the deal negotiations. Must be.

“Adjacent owners have made it clear that they have no intention of entering into a reasonable license agreement, as they did during the previous dismantling stage license negotiations,” said another Quinn McCabe lawyer on behalf of MRR. Matteo Lattanzio wrote in a recent submission.

DeFunis has not yet responded to the procedure.

Access to a handful of safety nets and some buildings may sound less, but even small speed bumps can be costly on plunging roads like the development of skyscrapers. I have.

“The inconvenience for adjacent owners is small compared to the difficulty for project owners if the license is denied,” Lattanzio wrote.

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