clock menu more-arrow no yes

Filed under:

Developer, Dead Tenant Squabble Over a $225,000 Buyout

New, 14 comments

Because New York City real estate drama haunts you even after you've passed on, a developer and a deceased tenant (well, that tenant's lawyer, to be precise) are duking it out over a payoff promised to the tenant but was only partially delivered before his death. In 2012, Icon Realty Management spent $18.5 million on three adjacent SRO buildings on West 71st Street, with plans to convert the properties into "luxury housing." A black-cab driver, Walter Blomeyer, was a holdout tenant. Icon cajoled him into vacating his studio—for $525,000.
Icon paid $300,000 of what amounts to a move-out bribe, and allowed Blomeyer to move to another apartment, rent-free, until they issued the rest of the payment. Sadly, Blomeyer had a heart attack in February.

His lawyer claims that Blomeyer's estate should be the beneficiary of the remaining $225,000; meanwhile, Icon claims that there's nothing in writing claiming that his estate can lay claim to the funds after he passes away. "This is bullying," says Blomeyer's lawyer. Responds Icon, "His estate is entitled to nothing." Fight!
· Landlord cheating dead tenant out of $225K: lawsuit [NYP]
· Icon Realty coverage [Curbed]