Earlier we mentioned the rumors that Whole Foods had shifted from Bedford Avenue to Broadway, abandoning the North Side of Williamsburg for the South Side. Could this story about a lawsuit over the property be the reason why? According to The Real Deal …
Brooklyn developer Yehuda Backer is facing a $50 million lawsuit from investor Joe Tabak for allegedly backing out of a deal to sell him two lucrative development sites in Williamsburg, and then selling them to a group led by the Cayre family.
Tabak, in a July 10 suit filed in New York State Supreme Court, claims that Backer and his wife, Ruthe, breached an agreement by selling the sites without consulting his lawyers or at least putting the sites up for auction. Tabak, who filed suit under his Princeton Bedford affiliate company, claims his firm lost $1.3 million after Backer threw the site into bankruptcy to protect it from lenders.
Another Condo owner who is a lawyer said that these suits can tie up projects for years. Will we have to wait past 2014 for our promised Whole Foods?