The Sol Goldman family feud is headed to the courtroom.
This week, a New York state judge denied a summary judgment request from Jane Goldman. Her nephew, Steven Gurney Goldman, and sister, Amy Goldman Fowler, filed a lawsuit in 2023, alleging that Jane and a Solil Management employee breached fiduciary duties by influencing an appraisal of the company’s properties held in a unit called SGI.
The appraisal was used to determine the value of the shares Steven and Amy cashed out by exercising their put options in the family company. They allege the appraisal undervalued the company by at least $570 million.
Judge Melissa Crane wrote that “Jane and Louisa’s lack of action and failure to review raises an issue of fact as to whether their willful ignorance was on purpose to avoid a higher valuation.”
Steven’s attorney said, “We look forward to proving at trial what we have maintained all along: that Jane Goldman has no authority to exercise unilateral control over Solil and that she breached her fiduciary duties in connection with the SGI appraisal process.”
A courtroom showdown could lead to the kind of fireworks whispered about in real estate circles for generations. The Goldman family feud exploded several years ago, drawing comparisons to the drama seen on HBO’s “Succession.”
At stake is a real estate portfolio that is one of New York’s largest, worth anywhere from $4 billion to $16 billion, The Real Deal’s Rich Bockmann wrote in 2024. That’s the kind of money that could lead families to tear themselves apart, something that already seems to be unfolding for the Goldmans.
A pretrial conference was set for this week.
Spooky season is morphing into the trot to Thanksgiving as the leaves fall and real estate news keeps churning along.
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Read more
Power struggle over Sol Goldman’s multi-billion dollar empire to head to trial
Floyd Mayweather loses in court, owes $300K in unpaid rent
Final penthouse at 111 Murray Street trades for $31M
