The Madison Avenue property is at the center of an ongoing lawsuit against SL Green from prominent real estate broker Lori Shabtai, who claims the company owes her more than $1.3 million in commissions for deals she put together at 710 and 712 Madison Ave. The suit argues that Shabtai orchestrated a deal at 712 Madison for Graff International to enter into a 25-year ground lease with SL Green for $12.4 million with an option to buy the building between Jan. 1, 2021, and March 1, 2023, for $43 million.
Shabtai is suing SL Green through her company LHWS for breach of contract.
Graff International purchased the adjacent building at 710 Madison Ave. in 2019 for $66.5 million from Raymond Gindi’s ASG Equities, property records show. The jeweler’s U.S. headquarters are located nearby, at 46 E. 61st St.