Brett Dockwell of Morrison Cohen LLP describes WeWork’s downfall as a “spectacular business failure” amplifying landlords’ challenges. The surplus office space flooding the market, combined with soaring interest rates, intensifies the struggle for landlords seeking new tenants and viable mortgages. Dockwell foresees WeWork emerging from bankruptcy as a more organized and rational business, reshaping the landscape.
Family Feud Over Billion-Dollar NYC Real Estate Empire Unveils Intra-Family Struggles
A billion-dollar NYC real estate empire becomes the battleground for a family feud reminiscent of the TV show “Succession.” Sol Goldman’s descendants clash in Delaware Chancery Court over the management of 400+ properties. Grandson Steven Gurney-Goldman and daughter Amy Goldman Fowler accuse Jane Goldman of an “illegal scheme” to control the family legacy.
The dispute, echoing common New York real estate tales, stands out due to the typically private Goldman family attracting attention. Brett Dockwell underscores the instructive nature of this family-run business struggle, highlighting the pitfalls of not adapting governance structures with evolving business generations.
