In a real-life drama reminiscent of “Succession,” two sisters are currently embroiled in a legal battle over a $2 billion family real estate empire that once boasted ownership of iconic properties like the Chrysler Building, the Stanhope Hotel, and 13 million square feet of prime New York City real estate.
The vast fortune was originally built by Sol Goldman, a father of four who passed away in 1987 at the age of 70.
Amy Goldman, a prominent Democratic donor who has had ties to President Biden, alleges that she has been unjustly excluded from the family business by her sister, Jane, who she accuses of maintaining an iron grip on the company.
In response, Jane, who has been at the helm of the family enterprise for 35 years, portrays Amy as a neglectful manager more interested in tending to her garden and cultivating heirloom tomatoes.
The legal dispute between the siblings mirrors a storyline from the popular TV series “Succession,” according to Amy and her nephew Steven Gurney Goldman, who have jointly filed a lawsuit in Manhattan Supreme Court.
Jane dismisses these comparisons as mere fiction, asserting that Amy and Steven are motivated by self-interest and are attempting to gain undue advantages from the family’s real estate holdings.
The feud between the sisters escalated following the passing of their brother, Allan, in 2022, when Allan’s son, Steven, began making what Jane describes as unreasonable demands, leading to a series of lawsuits instigated by Amy.
Despite both Amy and Steven initiating the process to liquidate their shares in SGI (Sol Goldman Investments), they were dissatisfied with the valuation provided by an external firm, which fell short of their expectations, potentially resulting in a reduced payout.
Sol Goldman’s children, including Amy and Jane, each hold a 25% stake in SGI, subject to a stipulation that permits them to cash out only in 5% increments every few years, in accordance with their late father’s directives.
While Sol Goldman, a former Brooklyn grocer’s son, faced setbacks like losing ownership of the Chrysler Building in the 1970s, the family still retains ownership of the land beneath the Olympic Tower on Fifth Avenue, among other valuable commercial and residential properties.
Amy and Steven’s lawyer declined to comment on the matter, while Jane’s legal representative, Jason Cyrulnik, characterized the allegations as baseless attempts to contravene Sol Goldman’s intentions for the family business and unfairly benefit themselves.