Settlement Reached with Goldman Properties Over Adverse Possession; 288 Elizabeth Rumored to Sell to ‘Tom & Jerry’s’ Owner

Posted on: June 23rd, 2015 at 5:00 am by
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76 East Houston finally awoke from its winter hibernation. Construction on the two-story commercial building – in the works for a couple years – resumed with a purpose last week after being frozen for a good six months. The ill-timed hiatus is with good reason. Several stop-work orders and its related lawsuit regarding the property line were reportedly the primary cause.

Yep. Goldman Properties, owner of the former Billy’s Antiques site and the nearby Bowery graffiti wall, picked a fight with the wrong man. The 88-year-old landlord of the adjacent 288 Elizabeth Street – Peter Maralewich – a veteran of the Pacific Theater in World War II.

You’ll recall the drama here: Billy Leroy’s tent leaned six inches over the property line to 288 Elizabeth Street for more than two decades. On paper, it appeared as though the Goldmans were correct in their land grab of this half-foot of real estate; they had already begun erecting the two-story facility. Only problem was that the antiques business apparently never possessed a valid Certificate of Occupancy for the corner parcel at 76 East Houston.

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Antiques circa 1989, Photo: Clayton Patterson

Somewhat ironic that the illegality of Billy’s is the linchpin in the case to thwart Goldman Properties.

“These big shots figured they can do what they want,” Pete intimated in a previous phone conversation. “But they made a mistake.” Those were his thoughts up until recently. A change of heart apparently transpired in the interim, since we are now told that a settlement was reportedly reached. Probably for more than the $20K he allegedly denied last year.

76 East Houston Street is commercially zoned and offers 2,928 square-feet of space. The retail space is still available via Sinvin.

But that’s not the full story here. Word on the street is Pete is selling the adjacent 288 Elizabeth Street to the owner of Tom & Jerry’s Bar located on the ground level. Nothing in the public record confirms this.

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