Target revealed as Blatstein’s planned Broad and Washington tenant, legal troubles continue for claim to property
Bart Blatstein‘s plans for his 32-story Broad and Washington development have been derailed due to some legal problems that have unfolded over the last few months. Between troubles with Hudson Realty Capital L.L.C. of New York. over claim to the property due to Blatstein’s failure to complete the $18 million purchase by an agreed upon sale date, and an appeal filed by residents in opposition of the development, things have not been moving forward quickly.
Now Hudson Realty is taking things back to court, attempting to regain claim over the parcel of land to instead sell the property off to Midwood Investment & Development.
The court records also reveal that one of Blatstein’s planned tenants would have been a Target store.
Attorney John A. Guernsey said in a recent court filing that Blatstein’s claim was keeping Hudson from consummating a sale to New York-based Midwood Investment & Development. The filing also contains letters revealing that Target Corp. had negotiated with Blatstein for space in the project at the northeast corner of Broad Street and Washington Avenue.
Broad & Washington LP, the unit of Blatstein’s Tower Investments Inc. that had sealed a purchase contract with affiliates of Hudson, “has no right, title, or interest in the property,” Guernsey wrote in this month’s court petition. He said Broad & Washington’s claim to the site “is an immediate and irreparable harm to [Hudson’s affiliates] by preventing them from marketing their valuable property.”