Gothamist
A non-profit newsroom, powered by WNYC.
Gothamist
Listen Live
News
Two Stubborn Tenants Score $25 Million Windfall To Make Way For Hudson Yards
By
Nathan Tempey
Published Oct 6, 2015
Modified Oct 6, 2015
Share
FacebookTwitterRedditEmail
Never miss a story
Email address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .
By
Nathan Tempey
Published Oct 6, 2015
Modified Oct 6, 2015
Share
FacebookTwitterRedditEmail
We rely on your support to make local news available to all
Make your contribution now and help Gothamist thrive in 2026. Donate today
Gothamist is funded by sponsors and member donations
Two tenants who refused to move out of their apartment in a 10th Avenue townhouse in Manhattan hit pay dirt last year when developer Tishman Speyer agreed to pay them $25 million to scram. The pair, Gary Schwedock, 58, and Steven Kobrick, 36, had been living in the footprint of the Hudson Yards mega-development, and the number crunchers at Tishman Speyer determined that it would make better economic sense to pay them off than to spend years in court battling their lawyer, David Rozenholc.
Tishman Speyer bought the townhouse at 10th and W. 35th Street as part of a $438 million acquisition on that block, with $3 billion lined up to build office towers there. From the sounds of it, Schwedock and Kobrick shouldn't have had a legal leg to stand on. Their building was too small to be rent-stabilized, but Rozenholc—you may remember him from the $17 million buyout at the Mayflower Hotel—argued that their building and the building next door should be considered together, as one rent-stabilized whole. He lost, but the specter of dealing with further appeals was enough to persuade Tishman to settle.
"He's the most feared tenant attorney with respect to development sites," developer Ben Shaoul told Crain's New York Business. "I don't think he has ever lost a case."
As Rozenholc told the publication, even "if [the developer] wins every step of the way, it will take them five years."
Rozenholc got a third of the $25 million, and Schwedock and Kobrick are reportedly sitting pretty with the rest—according to the New York Post, their new home is a penthouse apartment in Riverbank West, a doorman building on W. 46th Street with a pool and a roof deck. Schwedock told a Post reporter he was barred by the terms of the settlement from talking about his recent money shower.
The starting price for prospective condo buyers on Hudson Yards' website is less than $2 million for those who have, you know, enough for a $1.5 million studio right now, and goes up to over $20 million. Also, Tishman Speyer owns the Chrysler Building, Rockefeller Center, and an office tower over Grand Central Terminal.
Tagged
apartment buyout
david rozenholc
hitting the jackpot
hudson yards
tishman speyer
Nathan Tempey
Read more
Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
MORE news
Gatorade recall affects drinks sold in New York and New Jersey
More than 122,000 cases are being recalled over undeclared food dyes.
By
Giulia Heyward
Published Oct 5, 2026 at 4:36 p.m. ET
Gov. Hochul declares upstate NY measles outbreak a ‘disaster emergency’
The declaration is driven by rising case counts in rural areas and in neighboring Pennsylvania.
By
Caroline Lewis
News
Gov. Hochul declares upstate NY measles outbreak a ‘disaster emergency’
The declaration is driven by rising case counts in rural areas and in neighboring Pennsylvania.
By
Caroline Lewis
NYPD detective forced to retire after false statements in Brooklyn investigation
By
Charles Lane
Mamdani faces pressure to forge ahead with plan to fix polluting South Bronx market
By
Elizabeth Kim
Dominican man who shot border patrol officer in NYC sentenced to 15 years in prison
By
Samantha Max
Never miss a story
Catch up on the most important headlines with a roundup of essential NYC stories, delivered to your inbox daily.
Sign upEmail address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .