#HedgePapers No.2: One57

24 Feb 2015
In January 2013, New York Governor Andrew Cuomo signed a housing bill that contained special carve-outs for a select few property developers, many of whom were major donors to his campaign coffers. One of the developments that got special treatment is One57, a development catering not to the 1%, but to the 0.0001%.... Read More
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#HedgePapers No.1: Leonard Litwin

14 Feb 2015
100-year-old Leonard Litwin, owner of Glenwood Management, is one of the most well-known residential developers in New York, not only for his opulent Manhattan high-rises, but for his recently reported connections to Sheldon Silver and Governor Andrew Cuomo, both whom have been financial recipients of Glenwood’s in exchange for seemingly favorable tax and government treatment.[1] Recent reports have widely uncovered Litwin as one of the unnamed developers who made potentially unlawful payments to Sheldon Silver’s law firm, Goldberg & Iryami, for its tax appeal work.[2]... Read More
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