McDonald’s Pushes for Demolition of Ex-StreetEasy CEO’s NYC Penthouse in $10M Legal Dispute
In a high-stakes legal battle, McDonald’s has taken aim at Michael A. Smith, the co-founder and former CEO of StreetEasy, over a lavish penthouse in Manhattan. The fast-food giant claims that Smith’s rooftop expansion on his Tribeca condo violates property agreements, sparking a $10 million lawsuit demanding its demolition.
Smith’s penthouse, located at 147 Reade Street, boasts four outdoor decks and a swimming pool, spanning approximately 3,700 square feet. This luxurious addition sits atop a five-story building constructed in 1987, which McDonald’s asserts includes roof space the company owns. McDonald’s acquired four commercial units in the building in 1990 and secured easements for installations like a cooling tower on the rooftops of 147 and 149 Reade. However, in 2006, McDonald’s replaced its cooling system, vacating the space.
Also Read:- Bernhard Langer Faces Controversy Over PNC Championship Victory
- Nigel Bates' Emotional Return to EastEnders After 26 Years
In 2007, Smith, with approval from the building's condo board—of which he was president—expanded his penthouse. McDonald’s now alleges this construction destroyed parts of their easement and claims rights to the roof were never relinquished. The situation escalated in 2012 when McDonald’s faced HVAC issues and sought to reinstall equipment on the roof, only to discover the space was gone. Years of negotiation failed to resolve the matter, culminating in the company’s 2021 assertion of their easement rights.
Smith maintains that the renovation was lawful and visible by 2010, and argues that McDonald’s claim is invalid due to the expiration of the statute of limitations. His attorney has previously moved to dismiss the lawsuit, while McDonald’s insists on the restoration of the roof to its original state to accommodate its HVAC needs.
This dispute is not Smith’s first. The condo board accused him in 2021 of misleading owners about the penthouse expansion's scope, demanding $5 million in damages. As legal tensions mount, McDonald’s remains firm in its pursuit of demolition, illustrating how property conflicts can entangle even the most established entrepreneurs.
Read More:
0 Comments