Former investor in 1500 Broadway says billionaire owner hoodwinked him into selling stake

A former investor in a prominent Times Square retail-and-office tower is suing the building’s owner, alleging he was lied to about the property’s value and his tax liabilities when he sold his stake, losing millions of dollars as a result. Billionaire investor and art collector Chaim “Poju” Zabludowicz has owned 1500 Broadway — a 500,000-square-foot building where “Good Morning America” is produced — through his company Tamares Group since 1995. Rushbury Limited, a trust that … [more]

Source: Real Estate

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