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MSF in The Real Deal

America gets its first developer-in-chief
The Real Deal, January 20, 2017

TRD also caught up with Trion Real Estate Management’s’ Louis Pfaff, Ackman-Ziff broker Jason Meister and his father Stephen Meister, a former attorney for Trump. All three are proud supporters of the new POTUS.

“This was my guy,” Pfaff said with a smile. “The whole dynamic, it was definitely change.”

“No one but Trump could have awakened the sleeping giant,” said Stephen Meister on his way to Friday’s ceremony.

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Attorneys Mentioned: Stephen B. Meister

“It’s unfortunate that Mr. Naftali thinks that he will be able to avoid paying millions of dollars he rightfully owes Sigoura and Popkin by bringing this frivolous suit,” Stephen Meister, an attorney for the duo, told TRD on Wednesday. “We remain hopeful he’ll decide to do the right thing.”

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Attorneys Mentioned: Stephen B. Meister

But circumstances appear to have changed since then. “We’re hoping it [the exit] would be amicable, and we gave Mr. Naftali every opportunity to be amicable,” said Stephen Meister, attorney for Sigoura and Popkin. “But he is not being amicable and is not honoring his agreements.” Meister added that while Sigoura and Popkin worked at Naftali, they had been receiving a share of the profits. The complaint does not specify what projects Sigoura and Popkin believe they are owed money on.

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Attorneys Mentioned: Stephen B. Meister

The legal spat between Bill Ackman’s hedge fund Pershing Square Capital Management and special servicer CWCapital over the $5.3 billion sale of Stuyvesant Town-Peter Cooper Village is going into the next round.

In a letter supporting its motion to dismiss Pershing Square and Winthrop Realty Trust’s $500 million lawsuit, CWCapital’s attorneys called the suit “offensive,” “entirely out of bounds” and “glaring with legal deficiencies.” CWCapital also filed a motion on Thursday to recover its legal costs and “impose sanctions” on the plaintiffs and their attorney, Stephen Meister of Meister, Seelig and Fein.

Meister, in turn, dismissed the accusations. “(CWCapital’s attorney) Greg Cross admits every single allegation of my complaint and I believe not only is his motion entirely frivolous but I believe we will prevail,” he told The Real Deal.

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Attorneys Mentioned: Stephen B. Meister

“CWCapital breached its agreement with Pershing and Winthrop when it secretly foreclosed on the equity collateral,” the plaintiffs’ attorney Stephen Meister of Meister, Seelig & Fein LLP told The Real Deal. Pershing Square and Winthrop seek $500 million in damages “plus punitive damages or rescission of the (October 2010) agreement,” according to the suit.

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Attorneys Mentioned: Stephen B. Meister

Stephen Meister, an attorney who represents Ralph and David, dismissed the allegations as “nonsense.”

“Ralph is a good guy and he’s made hundreds of millions of dollars for his family, and he hasn’t diverted a dime,” Meister said. He added that it was the other way around: that Ralph did all the deals “and his brothers take credit for it.”

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Attorneys Mentioned: Stephen B. Meister

Eddie sued the two bothers for $30 million in February, alleging they misappropriated funds from the family business and made unauthorized sales of properties.

Tuesday’s decision by New York State Supreme Court Judge Jeffrey Oing states that Eddie failed to show that Ralph was personally obligated to him.

Stephen Meister, an attorney for Ralph and David, said that "it is a shame when one brother sues another, especially over jealousy."

"Unsurprisingly, Eddie’s completely baseless suit was dismissed," Meister added. Joseph Lipari, Eddie’s attorney, declined to comment.

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Attorneys Mentioned: Stephen B. Meister

Kassin’s attorney Stephen Meister defended the suit's merits in a statement, saying, "NY law is clear: a party to a contract cannot prevent its performance. That’s what Lichtenstein did to the broker he hired — getting millions in the process — and why my client will prevail."

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Attorneys Mentioned: Stephen B. Meister

Isaac Chetrit and Jacob Aini won a bid Monday to buy a 14-story Midtown office building for $43 million at a bankruptcy auction, The Real Deal has learned.

The bidding for the 63,000-square-foot vacant property at 315 West 35th Street began at $25 million. Investor Frank Ng was the only other bidder, putting in an offer of $42.25 million.

Chetrit and Aini plan to close on the purchase in the next two weeks and subsequently convert the property into high-end residential condominiums, said Chetrit’s attorney Stephen Meister.

The total debt on the building is about $29 million, and the buyers will also pay $14 million in cash, Meister added.

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Attorneys Mentioned: Stephen B. Meister

From sales to Shakespeare
The Real Deal, December 01, 2014

Sorvino — best known for his role as Paulie in Martin Scorsese’s 1990 “Goodfellas” and a recurring role on “Law & Order” — has written the screenplay and is slated to direct as well as star in the title role.

The film, a period piece, is expected to cost about $24 million, Meister said.

After agreeing to the consulting stint, Meister partnered with lawyer Elaine Rogers, who specializes in media and entertainment at the firm Meister Seelig & Fein (where Meister’s father, Stephen, is a partner). Rogers’ clients include several investors in the film industry.

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Attorneys Mentioned: Elaine M. Rogers

Deutsch did not respond to a request for comment. Lincoln’s lawyer Stephen Meister said Deutsch’s suit was frivolous.

“In an attempt to extort a multi-million dollar hold-up payment… Astoria Equities and its principal Isaac Deutsch refused to close on a binding sale contract, and have brought a 27-count ‘kitchen-sink’ complaint in the Queens County Supreme Court,” Meister said. He plans to file response papers tomorrow.

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Attorneys Mentioned: Stephen B. Meister

If Heron and the other owners are victorious, it could put a kink in a plan launched during the Bloomberg administration to build as many as 1,000 units of affordable housing and retail on three blocks in the neighborhood as part of the $700 million East Harlem Media, Entertainment and Cultural Center. If the city wins the right to condemn the other four parcels, it leaves open the opportunity to acquire Heron’s parcel, with about 62,724 square feet of development rights.

Heron is concerned about the four other properties because of the city’s assertion that once the first stage of acquisitions of properties commenced, it could have up to 10 years to take other land. That, Heron argues, places a “cloud” over the land. The owners say the city’s last day to launch condemnation proceedings was in October 2013, while the city put the last date in February 2014.

“The purpose behind the three-year limitation period is to prevent the city from indefinitely casting a cloud over the targeted private property,” Heron’s attorney Stephen Meister, a partner with the law firm Meister Seelig & Fein, said in an email to The Real Deal.

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Attorneys Mentioned: Stephen B. Meister

Chetrit beats Dayan in court over 5 Beekman
The Real Deal, December 01, 2010

Chetrit had to lay out both his and Dayan's share of additional funds to extend and reduce their mortgage commitment to just over $20 million from about $53 million. Now, a judge has ordered Dayan to pay, and Stephen Meister, Chetrit's lawyer, said he will start enforcing the judgment, which is worth about $2.55 million.

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Attorneys Mentioned: Stephen B. Meister

A Fallen Star
The Real Deal, June 04, 2010

"I think that iStar and Jay Sugarman are fearful of developing a reputation for working with developers and being soft on borrowers," said Stephen Meister, who represents Slazer Enterprises in the One Madison case.

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Attorneys Mentioned: Stephen B. Meister

"So many of them are completely baseless and untrue that it's really not a good idea to rely on these unsupported allegations," Meister told The Real Deal.

..."We want to get this thing back on track," said Meister. "There's enormous pent-up demand."

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Attorneys Mentioned: Stephen B. Meister

"They say we don't pass the loan-to-value test and that's why they're not offering the renewal," Macklowe attorney Stephen Meister told The Real Deal.

...."Defendants arranged for this purchase for the sole predatory purpose of increasing their leverage in refusing to honor the explicit extension set forth in the loan documents," Meister said in the complaint.

The complaint argues that SL Green called in a default based on a new appraisal by Cushman & Wakefield that values the property at $180 million. Meister says the newly appraised value, however, is $60 million to $70 million less than what SL Green will wind up paying for the property, factoring in the loan purchases, transfer taxes and renovation cost

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Attorneys Mentioned: Stephen B. Meister

The Real Estate Board of New York has retained prominent real estate attorney Stephen Meister to appeal the landmark Appellate Court ruling from earlier this month that restored rent stabilization rights to thousands of current and former tenants at Stuyvesant Town-Peter Cooper Village.

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Attorneys Mentioned: Stephen B. Meister

"I did expect Fortress to prevail because the terms of the auction were such that it was very difficult for others to bid," said Stephen Meister, attorney for Levy and Hoyda.

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Attorneys Mentioned: Stephen B. Meister

Attorney Stephen Meister, partner with Meister, Seelig & Fein..said lenders in such a situation had limited options considering the poor economy.

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Attorneys Mentioned: Stephen B. Meister

In I.P.N.'s case, the city mistakenly continued to grant Gluck tax breaks for two years after he removed the building from the Mitchell-Lama middle-class housing program in 2004, Meister said.

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Attorneys Mentioned: Stephen B. Meister

Billionaire developer Tamir Sapir is facing a $130 million lawsuit from a fund controlled by the Blackstone Group, alleging he defaulted on a multi-million-dollar loan used to develop the William Beaver House condominium in the Financial District.

..."We're going to be vigorously defending the action, nevertheless we've had prior conversations and hope to resolve the matter with GSO," said attorney Stephen Meister, who was retained by Sapir in the case.

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Attorneys Mentioned: Stephen B. Meister

Attorney Stephen Meister, a partner at the firm of Meister Seelig, representing clients ranging from the Real Estate Board of New York to developers like Harry Macklowe, said he fears the election of Cuomo and Schneiderman will perpetuate the type of government activism that he believes helped lead to the real estate bubble.

"All in all, I do not think the outcome bodes well for real estate owners, or economic growth in general," Meister said in an e-mailed statement. "In terms of cleaning up Albany, I am not optimistic, but like all New Yorkers I will be watching and hope Mr. Cuomo keeps his promise to do so."

LL

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Attorneys Mentioned: Stephen B. Meister

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