Inside the Goldman succession saga; Mayor backs Related’s bid for Signature loans ... and more

The best national real estate stories from The Real Deal. Dec 02, 2023 [View in Browser]( | [$1 for 1 Month]( [The Real Deal Logo](   [The National Logo](   In today’s newsletter, we look at a real estate succession [battle over a $2 billion empire](. Plus, hackers [take out a major title company](, a multinational joint venture gets ready to [splash some cash on multifamily](, and City Hall [backs a bid for Signature’s loan book](. These and more stories below.   [Sol Goldman heirs spill secrets in fight over $2B portfolio]( The heirs to Sol Goldman's $2 billion fortune are embroiled in a bitter legal battle. In an effort to win that battle, they’ve exposed the inner workings of one of real estate’s most secretive dynasties. Jane Goldman, daughter of the late tycoon, is being sued by her sister and the three children of her recently deceased brother. The lawsuit alleges that Jane seized on the death of her brother last year to usurp control of the company, sidelining her own family members in the process. The dispute revolves around the valuation of the extensive Goldman portfolio, comprising over 250 properties. As some family members sought to cash out their stakes, allegations arose of Jane manipulating the appraisal to keep the price low, devaluing her family’s shares and allowing her to purchase them at a significant discount. The story doesn’t stop with financial manipulation, though. It’s rife with criticisms of Jane’s character, accusing her of paranoia and an unpredictable temper. That the story sounds like a plot from a certain HBO’s dramedy was not lost on the family. The lawsuit welcomes the comparison, calling it “a real-life parallel to the television show Succession.”   Advertisement   [I'm an image]( [City Hall backs Related’s bid for Signature Bank’s loans]( New York Mayor Adams’ administration endorsed Related’s bid for Signature Bank's commercial loans this week. The firm earned the mayor’s support thanks in large part to its partnerships with two nonprofits focused on preserving affordable housing. As news of the bids continues to roll in, some industry insiders have pointed out that [conventional wisdom is wrong]( about one aspect of the loan sale. [I'm an image]( [Miami-Mexico City joint venture raises $309M for multifamily acquisitions]( Eagle Property Capital and Promecap successfully raised $309 million for a fund focusing on multifamily properties in Sun Belt states. The Miami and Mexico City-based firms are planning $883 million in acquisitions. [I'm an image]( [Hackers hit major title company, disrupting Chicagoland real estate deals]( A cyberattack on Fidelity National Financial, a major Chicago-area title company, caused delays in closing home sales in the city.   Advertisement   [I'm an image]( [Brand Studio Add One Step to Your CRE Closing to Boost Year-1 NOI]( [I'm an image]( [Greenland losing grip on $5B Pacific Park megaproject]( A decade after breaking ground, Greenland USA is facing challenges in completing its $5 billion Pacific Park megaproject in Brooklyn. The firm is set to lose control after defaulting on $350 million in loans. [I'm an image]( [$150M listing catapults Manhattan Beach to top of ultra luxe market]( Manhattan Beach has been on a hot streak in recent months, with several listings above $20 million. But things just went up a level. The city saw a $150 million listing for a 13,000-square foot mansion hit the market this week, raising questions about whether the area belongs in conversations about luxurious neighborhoods like Malibu and Beverly Hills. [I'm an image]( [Modular building startup Veev is closing after raising $600M]( The modular building startup Veev, once celebrated in the construction scene, is closing its doors shortly after raising more than half a billion dollars. [I'm an image]( [Left at the closing table: $101M deal dissolves into lawsuits]( Austin-based developer Wilson Capital planned to sell two apartment complexes for $101 million, but the buyer, New York’s River Rock Capital, failed to appear at the closing. Now, the two firms are suing each other, and details emerging from the lawsuits have shed some light on the story. [I'm an image]( [Fort Lauderdale duo arrested for allegedly scamming $1M for non-existent townhome project]( A Fort Lauderdale duo has been arrested for grand theft, money laundering, and fraud after scamming would-be home buyers with a non-existent townhome project.     [The Real Deal Logo]( [Facebook]( [Twitter]( [Instagram]( [LinkedIn]( [YouTube]( [Manage Newsletters]( | [Unsubscribe]( | [Privacy Policy]( | [Subscribe]( | [Advertise]( The Real Deal 450 West 31st Street, New York, NY 10001 ©2023 TheRealDeal. All rights reserved. [View Online](