Published On: Wed, Sep 3rd, 2014

Asher Zamir Settles Dispute with Sol Goldman Estate over 587 Fifth Ave

587 Fifth Ave

Asher Zamir and his Zamir Equities have managed to come to terms with Sol Goldman Investments, belonging to the estate of Sol Goldman, over a space that Zamir leases at 587 Fifth Ave in Manhattan, The Real Deal has reported. The deal moots a hearing on the dispute which was scheduled for September 8th.

The dispute began when Goldman, the landlord, tried to evict Zamir from its midtown Manhattan building. On August 4th it sent Zamir two notices. The first claimed that he failed to correct a Department of Buildings violation regarding a technical notice and the second said that Zamir had received three different violations from the Fire Department of New York.

But Zamir countered that Goldman was citing two year old problems that had long since been resolved. In an affidavit he said, “In spite of defendant’s contentions to the contrary, plaintiff has not defaulted under the lease as asserted by defendant, and if any of the alleged default is demonstrated to exist, same is not material to the lease as to justify termination of the same.”

Located near the northeast corner of 47th Street, 587 Fifth Ave is a ten story office building. Zamir’s jewelry business holds a lease there that runs through 2079.

Zamir has had previous legal troubles regarding its lease there. In 2013 Crown Acquisitions and investor Steven Feldman, of One North Realty accused him of backing out of a deal to sell them the ground lease there for $27 million.

Elyass Eshaghian who has a one third stake in the firm called Baruch, which controls the lease at 587 Fifth Ave, has also sued Zamir. Eshaghian says that he has the right to buy Zamir’s majority interest in that lease through a buy-sell covenant in the operating agreement, and that Zamir reneged on it.

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