| In the late 1980s, I represented the Ritz Tower residential cooperative on Park Ave and 57th St in Manhattan in a ground rent reset arbitration. Based on my performance in 1989, they asked me to create some value and raise over $20,000,000 to do some repairs. I re-negotiated the ground lease, bought out 2 retail tenants, created a commercial condo, and then sold the condo to the third retail tenant for $25,000,000. That deal won the Robert Lawrence Award from REBNY for the most ingenious deal of the year. |
