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building at 42 East 73rd Street

Started by NWT
over 10 years ago
Posts: 6643
Member since: Sep 2008
Discussion about 42 East 73rd Street in Lenox Hill
The owner of #2A is suing the co-op to allow access to #3A, for flue repairs. The owner of #3A won’t allow access. He is the same Steven Lapidus of 1050 Fifth fame. He bought from 73’s sponsor after being ejected from 1050. See http://www.habitatmag.com/archive/article/3563/case-notes/ for an excellent precis of why he was limited to a no-board-approval-required apartment.
Response by crescent22
over 10 years ago
Posts: 953
Member since: Apr 2008

Who got the proceeds when the 1050 apt was sold at the top in 2008?

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Response by NWT
over 10 years ago
Posts: 6643
Member since: Sep 2008

Somewhere in all the court cases (they're still fighting over legal fees to collect the legal fees) there's a breakdown of what was left for Lapidus of the $4,284,000 after all the co-op's legal fees, back maintenance, etc., were paid. It wasn't much.

Oh, it was 1050 Park #4B, not 1050 Fifth.

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Response by NWT
over 10 years ago
Posts: 6643
Member since: Sep 2008

This has a partial breakdown: http://decisions.courts.state.ny.us/fcas/fcas_docs/2013MAY/51001182120093SCIV.pdf

The neighbor downstairs, who got flooded, was awarded ~$135,000 in legal fees. Don't know whether that came out of the $4,284,000 or was a separate judgement.

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