Hogs get slaughtered ...
Or so the saying goes. Greystone looks more hoggish by the day.
One would think that over promising in a commercial lease situation would lead to problems, even lawsuits.
This one looks like a doozie.
Greystone, despite their best attempts to ignore their own malfeasance in the soon to be invalidated purchase of the Brooklyn Lyceum, keeps creating their own problems.
For example.... take a look at Blink Fitness. They signed on for 15,000 +/- square feet of space in the Brooklyn Lyceum. Little did they know that, in order to build the adjacent building taller, Greystone had to tell the NYC Buildings Department that the uses in the Brooklyn Lyceum had to be a community facility.
And, guess what is not a community facility according to the NYC Buildings Department, commercial chain gyms.
In addition, Greystone never bothered to get a anew certificate of occupancy (CofO), a required process when significant changes have been made (altering exits adding or removing floors, excavation), and is instead attempting to have Blink Fitness occupy a brand new floor that does not even exist in the Certificate of occupancy they are using from 1943.
Wow. What will Stephen Rosenberg of Greystone do? Not do commercial in the base of a brand new residential building and give up some of that residential?
More likely they take the bullet now on the inevitable Blink lawsuit and suffer through whatever breakup will entail be it settlements or lawsuits.