Landlord Josh Gotlib says a “secret recording” made by his companion’s widow debunks her accusation that she was tricked into signing over her late husband’s pursuits of their actual property enterprise.
Natalia Legg — the widow of Black Spruce co-founder Oliver Legg — sued Gotlib and his firm Black Spruce Administration in 2023 claiming that Gotlib tricked her into signing switch agreements handing over her husband’s shares.
Oliver Legg died of most cancers in Might 2015 on the age of 43. Following his demise, Natalia was planning to return to Switzerland together with her daughter to dwell there. At that time, she claimed, Gotlib took over management of Black Spruce and the household belief the place Oliver had positioned his membership pursuits for the advantage of his spouse and daughter.
Natalia stated Gotlib advised her that the belongings within the belief have been shedding cash, and that as a fiduciary he needed to maneuver them out of the belief. However she claimed that he really needed to maneuver them to learn himself.
She stated he invited her to dinner to signal switch agreements to ratify the transfer.
“Shortly earlier than Natalia left New York, Gotlib invited Natalia to dinner at his residence. Casually, Gotlib produced the switch agreements and advised Natalia that she wanted to signal them earlier than she left New York together with her daughter solely shortly thereafter,” her attorneys wrote in her criticism. “Seizing on Natalia’s vulnerability, Gotlib employed deception and false reassurance to trick Natalia into rapidly signing the switch agreements.”
Natalia stated she had no data of the switch agreements earlier than the dinner. However now Gotlib says that Natalia was absolutely conscious of what she was signing, and he says that he has proof.
In a brand new submitting, Gotlib’s attorneys say that in discovery they obtained a “secret recording” Natalia made on the workplace of her legal professionals at Kramer Levin in Might 2015. The recording exhibits, he claims, that Natalia’s attorneys defined to her that Oliver had agreed that Gotlib would take over administration of the money-losing belongings.
“For this specific task [Gotlib] goes to have me, my agency, draw up the required agreements to commemorate what he and Oliver had agreed to as a result of then we’re decreasing it to writing, as a result of he wants that to manage the belief correctly,” the recording stated. “In order that’s why that’s occurring.”
Gotlib stated that the recording exhibits that Legg’s central argument — that Gotlib lied and tricked her at a dinner — is unsuitable. He additionally says that since she was conscious of the agreements in 2015, the time to file a lawsuit beneath the statute of limitations has expired.
Gotlib filed a movement to have the case thrown out.
Considered one of Natalia’s attorneys, Nate Goralnik from Quinn Emanuel, disputed Gotlib’s interpretation of the recording. He stated that the case belongs in arbitration, and that Gotlib’s movement was a ploy to attempt to divert the case again into court docket and into the general public eye.
“The entire movement reeks of an try to make this about what the legal professionals did or what they need to have executed, as a substitute of what the case is about,” he stated.
However Gotlib legal professional Todd Soloway of Pryor Cashman stated that Natlia put the problem within the court docket when she filed her lawsuit.
“The case would’ve by no means seen the sunshine of day however for the misstatements made to the court docket about Natalia Legg’s consciousness of the transactions that have been being effectuated,” he stated. “The key recording proves that.”
Black Spruce is likely one of the largest multifamily landlords in Manhattan. The corporate seemingly got here out of nowhere in 2021 when it made headlines for getting the American Copper Buildings for $850 million.
Gotlib adopted that up with a deal to purchase a portfolio of residence buildings from the household of the late Sheldon Solow for $1.75 billion in partnership with Meyer Orbach.
Gotlib and Orbach only recently bought a stake in a number of the properties to Scott Rechler’s RXR in a deal valuing the buildings at $435 million.
Learn extra
Black Spruce’s Josh Gotlib accused of fraud by partner’s widow
Black Spruce’s Josh Gotlib says partner’s widow was no “naive victim”
The biggest landlord you don’t know: Meet the 36-year-old behind one of the priciest-ever apartment deals in NYC
