By Attorney Popular Publications

MSF in Crain's New York Business

Judge interrupts SL Green's seizure of 510 Madison
Crain's New York Business, April 14, 2010

Stephen Meister, the attorney representing Macklowe Properties, said there will be a trial to determine who will own the 30-story midtown property. It is unclear when the trial would be held. An SL Green spokesman didn't immediately return a call.

SL Green purchased two loans on the tower over the last year and planned to use its position to foreclose on it Tuesday by claiming that terms of the loans have been violated. Mr. Meister said the loans were due on March 1 but that the agreements allow his client two six-month extensions. SL Green argued that Macklowe had violated the loan agreements and therefore wasn't entitled to any extensions.

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Attorneys Mentioned: Stephen B. Meister

Battle for 510 Madison Ave. goes to court
Crain's New York Business, March 02, 2010

However, Macklowe's lawyer, Stephen Meister, challenged the appraisal in court documents. He said if that appraisal were true, SL Green would have breached its fiduciary responsibility by paying $185 million for the two loans it purchased.

In a statement, Mr. Meister said he was demanding to see the appraisal and any e-mails between SL Green and Cushman & Wakefield. He added Macklowe would hire its own appraiser.

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Attorneys Mentioned: Stephen B. Meister

SL Green angling to grab 510 Madison
Crain's New York Business, February 17, 2010

Lawyer Stephen Meister said that his client has an expressed right to extend its loans and has exercised it. He added that if SL Green doesn't honor the extension, it can “expect my firm to take prompt legal action to protect the Macklowes.”

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Attorneys Mentioned: Stephen B. Meister

Tishman Speyer said in a statement it was pleased the motion to appeal was granted and that it looked forward to the Court of Appeals ruling on the issue.

“I’m delighted,” said Stephen Meister, who filed a friend of the court brief on behalf of the Real Estate Board of New York supporting the request for appeal. “It was the right thing to do. This is a matter of supreme importance.”

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Attorneys Mentioned: Stephen B. Meister

My clients were iced out,” said Stephen Meister, attorney for the two men. He said his clients own 70% of the building.

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Attorneys Mentioned: Stephen B. Meister

Mr. Gluck’s lawyer, Stephen Meister, said he filed the suit to insure that Realty Finance couldn’t sue his client.

“Larry Gluck is one owner who is trying to do the right thing,” Mr. Meister said. “He doesn’t want to fight the foreclosure.”

Mr. Gluck and partner Rockpoint Group purchased the complex in 2005 for $131 million. A year later, they refinanced with a $25 million loan from what is now Realty Finance and a $225 million loan that is now owned by Wells Fargo.

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Attorneys Mentioned: Stephen B. Meister

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