The Sitt-down: Eddie, Ralph and David settle years-long legal feud His suit against Ralph and David is resolved, while Jack’s remains
From left: 2 Herald Square, Eddie and Jack Sitt
A family feud that may have cost the Sitt family their prime asset appears to be coming to an end.
Eddie Sitt has settled a long-running legal battle with his brothers Ralph and David over control of the family s asset. But while the brothers have made peace, it may be too late for the family’s flagship property, the 354,000-square-foot building at 2 Herald Square, which is facing a foreclosure auction as soon as February.
Sitt Asset Management was founded in 2001 by the four Sitt brothers and their father (whose stake was later taken over by their mother, Marylyn), and was evenly split between the five of them. Litigation between Jack, the fourth brother, and David and Ralph is still ongoing.
“We’re obviously pleased to have settled with Eddie Sitt,” Stephen Meister, the attorney who represented Ralph and David, told The Real Deal. “At the end of the day,爱上海同城手机版