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which sank the value of Solow's bond portfolio. On a technicality, Solow defaulted on his loan, which allowed
Citibank to seize and sell his bonds and to sue Solow for the value gap of $ 100 million, a case which Citibank won. In 2012, Solow attempted to sue Citi on the basis of securities fraud, but the case was dismissed. In 2013, Solow sued again, this time over Libor. In April 2019, the New York federal judge ruled in favor of Citibank, and the Libor lawsuit will not be revived.
33:
281:, a tenant at 9 West 57th Street, for referring to the structure as the "Avon Building". The case was dismissed but Solow launched further legal action against the company claiming it had failed to restore the building to its original condition at the end of its lease in 1997. The case was settled out of court with Avon paying Solow $ 6.2 million. Solow sued
285:, a friend, over a loan of $ 7 million that Solow had provided in the mid-1990s. Kalikow had paid back the loan early, depriving Solow of 9 percent interest payments, but the case was dismissed after Solow claimed Kalikow had failed to disclose assets at the time the loan was agreed. In 2006, Solow sued
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to purchase the
Consolidated Edison parcels along the East River to develop a seven-building, $ 4 billion project, Solow put more than $ 450 million in high-grade municipal bonds as collateral. However, during the economic downturn of 2008, Citibank artificially inflated the Libor rates,
329:(who uses an older spelling of the family name), now runs Solow Building Co. Stefan also runs an agriculture conglomerate called Crossroads Agriculture based in Colorado and New Mexico. He is ranked the 54th largest landowner in the United States.
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status, he provided no public access. In 2018, Solow arranged for his son to lead the Solow Art and
Architecture Foundation, effectively passing control of the collection from Sheldon to Stefan without any estate tax.
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he acquired the sites secretly using a dummy company, registered in his sister's name. In all, he purchased 14 buildings on 61,800 square feet (5,740 m) at a cost of $ 12 million.
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for $ 126.1 million, setting a world record for the most expensive sculpture ever sold. Though Solow derived significant tax benefit from the collection's
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and two other parcels. In 2016, he broke ground at one of the sites, 685 First Avenue, to start work on a 42-story residential development designed by
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magazine reported in 2008 that, by some measures, he had been involved in "upwards of 200" lawsuits. In 1975, he sued
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and art collector who lived and worked in New York City. In August 2020, he had a net worth of $ 4.4 billion.
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681:"Why Billionaire Sheldon Solow's $ 450 Million Libor Case Is Likely To Be Followed By More"
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877:"A Nonprofit Museum with No Public Access: A Showy Extravagance with a Tax Exemption"
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painting for $ 42.1 million. In May 2015, he sold
Giacometti's 1947 sculpture
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In the 1970s, Solow obtained financing, and in collaboration with the architect
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Solow was an extensive collector of modernist and renaissance art. Solow owned
224:. One of its prominent features is a large red sculpture of the numeral "9" by
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209:, intending to develop a high-rise residence. To avoid potential problems with
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In the early 2000s, Solow purchased 9.2 acres (3.7 ha) of land along the
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522:"New York City real estate bigwigs rank among world's richest Jewish people"
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family in the
Brooklyn borough of New York City. His parents were Isaac, a
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in the U.S., estimated at $ 500 million. After taking out a loan from
918:- a mock website of Sheldon Solow's art foundation, created in 2017.1
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Kazakina, Katya; Clark, Patrick; Oster, Patrick (November 17, 2020).
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on the sidewalk by the main entrance. Because it had direct views of
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Solow acquired his first property, a 72-family apartment building in
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sculpture for $ 30.1 million and, in
February 2013, he sold an
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in 1962 around the time that he was developing luxury apartments on
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150:(July 20, 1928 – November 17, 2020) was an American
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to study engineering and architecture but dropped out in 1949.
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831:"Deal of the Art: Why Auction Houses Are Giving Away Millions"
708:"2nd Circ. Won't Revive Real Estate Mogul's $ 100M Libor Suit"
557:"Sheldon Solow, Billionaire Real Estate Developer, Dies at 92"
915:
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Solow was married to the sculptor and jewelry designer
588:"Prime Lot, Empty for Years (Yes, This Is Manhattan)"
425:"Time Waits For No Man : Not Even Sheldon Solow"
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in New York on
November 17, 2020, at the age of 92.
445:"Empire Built by Developer Shows Signs of Distress"
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615:"Developers Find Newest Frontier on the East Side"
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498:"Jewish Billionaires – Profile of Sheldon Solow"
321:, a Swedish model, and the French photographer,
170:, and Jennie Brill, a homemaker. Solow attended
296:Solow had the largest individual loss from the
858:"Developer's museum off-limits to the public"
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205:From 1965, Solow began acquiring property on
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504:(in Hebrew). April 4, 2013. Archived from
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16:American real estate developer (1928–2020)
782:Petkanas, Christopher (August 19, 2011).
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220:, he built a 50-story office building at
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785:"Vicky Tiel's 40-Year Career in Fashion"
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255:. The project was completed in 2018.
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442:Bagli, Charles V. (March 31, 2010).
366:painting for $ 26.6 million, a
362:painting for $ 33.5 million, a
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828:Kazakina, Katya (April 26, 2016).
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423:Minchom, Clive (August 23, 2013).
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705:Koenig, Bryan (April 30, 2019).
679:Carlyle, Erin (March 28, 2013).
309:Personal life and art collection
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640:"685 First Ave. in Murray Hill"
162:Solow was born and raised in a
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875:Rubin, Erin (April 25, 2018).
653:Piore, Adam (March 31, 2008).
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358:. In February 2012, he sold a
190:. He established an office in
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856:Anuta, Joe (April 23, 2018).
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335:Young Man holding a Medallion
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972:Businesspeople from Brooklyn
395:Weill Cornell Medical Center
249:Waterside Generating Station
243:for $ 600 million from
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263:Solow was involved in many
241:United Nations headquarters
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655:"Solow courts new battles"
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342:as well as paintings by
957:American art collectors
291:General Motors Building
763:Mia Fonssagrives-Solow
659:The Real Deal New York
315:Mia Fonssagrives-Solow
987:People from Manhattan
962:American billionaires
508:on September 24, 2015
271:during his lifetime.
152:real estate developer
916:The Solow Foundation
881:Non Profit Quarterly
736:(October 10, 2001).
528:. November 11, 2013.
429:Jewish Business News
354:, and sculptures by
323:Fernand Fonssagrives
769:on November 4, 2016
245:Consolidated Edison
172:New York University
148:Sheldon Henry Solow
80:New York City, U.S.
64:New York City, U.S.
51:Sheldon Henry Solow
790:The New York Times
744:The New York Times
619:The New York Times
593:The New York Times
450:The New York Times
356:Alberto Giacometti
317:, the daughter of
222:9 West 57th Street
211:holdout properties
89:Property developer
372:Amedeo Modigliani
319:Lisa Fonssagrives
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75:(2020-11-17)
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937:2020 deaths
932:1928 births
759:"About Mia"
368:Henry Moore
352:Franz Kline
207:57th Street
192:Park Avenue
188:Long Island
926:Categories
664:August 16,
598:August 25,
512:August 14,
482:August 13,
401:References
383:non-profit
340:Botticelli
237:East River
168:bricklayer
158:Early life
86:Occupation
57:1928-07-20
886:April 25,
867:April 23,
841:April 26,
836:Bloomberg
364:Joan Miró
239:near the
196:Manhattan
813:July 22,
718:July 22,
690:July 22,
624:June 27,
391:lymphoma
302:Citibank
269:lawsuits
119:Children
380:501(c)3
344:Balthus
287:Conseco
130:Website
113:
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910:Curbed
808:Forbes
713:Law360
685:Forbes
477:Forbes
178:Career
164:Jewish
94:Spouse
37:Solow
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888:2018
869:2018
843:2016
815:2020
775:2015
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666:2021
626:2023
600:2013
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514:2015
484:2020
350:and
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