[Fredslist] Limited Partnership needs an Attorney....

[Jack Britvan]

Looking for an attorney to deal with the following Real Estate situation. 4
small (12-40 unit) apartment buildings in Manhattan are owned by a
Partnership with no mortgage. I am a limited partner in 3 of the 4
properties. There is only one general partner on all 4 with 10-15 Limited
partners. The other General Partner passed away 3 months ago. Married couple
in their late 80's. At the husbands passing the former managing company
approached his widow and purchased the 4 apartment buildings with no Broker
or appraisal for up to $8,000,000 below the true value. This is the
information that I have obtained from former General Partners of the 4
properties. General Partner also took back 2 years of notes while monthly
payouts of profits received by the limited partners for the last 25 years
are now going to purchaser. The limited partners are looking for an Attorney
to bring the parties to the table. They have refused to open the books. If
they will not provide the information to prove or disprove of the value of
these 4 properties then a lawsuit will commence. Would prefer a reasonable
retainer and possible contingency fee going forward. General Partner lives
in Florida, Purchaser lives on Long Island but has his Management Company in
Manhattan and most Limited Partners are in the tristate area. BTW..it is not
my sole decision on who gets hired.  Jack 

 

Sincerely,

Jack Britvan, SIOR

President

Commercial Realty Services of Long Island Inc.

100 Jericho Quadrangle

Suite 142

Jericho N.Y. 11753

Direct:  516-864-0011

Cell:      516-524-9200

Fax:       516-864-0010

 <mailto:JBritvan at RealBrokers.org> JBritvan at RealBrokers.org

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://www.gothamnetworking.com/pipermail/fredslist/attachments/20161223/50d872cc/attachment.html>