Staten Island, NY – NYC Ferris Wheel Developer Says Partners Are Squeezing Him Out Because He Is Chasidic

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    An artist's rendering of a proposed 625-foot Ferris wheel. (AP Photo/Office of the Mayor of New York)Staten Island, NY – A 630 foot Ferris wheel currently under construction in Staten Island is taking center stage in a lawsuit, as the developer of the wheel has sued his partners for shutting him out of the project because of his Chasidic appearance.

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    Meir Laufer, chairman of the board for New York Wheel, filed papers in State Supreme court in November charging that investors conspired against him, manufacturing ways to dilute his share in the project both financially and otherwise, as reported by The Real Deal. In earlier legal papers filed in July, Laufer claimed that he was treated differently than other investors and board members, which included the Feil Organization, well known investor Richard Marin, Lloyd Goldman of BLDG Management and businessman Joseph Nakash because of his Chasidic garb.

    “Marin was even so bold as to tell Laufer that, in order to attract investors, the project could not have ‘more than one board member from ‘your community,’’” stated the court documents.

    Laufer claims that his stake in the project has been reduced from its original 33 to just 3 percent because of various financial manipulations, some of which were ill conceived. He also stated that his name was removed from all press releases, that he has been excluded from project updates and that he has been forbidden from speaking out publicly about the project.

    According to Laufer, the New York Wheel concept was born in 2008 after he found himself intrigued by the London Eye and envisioned a similar attraction for New York City. Laufer met with the Eye’s lead engineer in London and four years later Mayor Bloomberg announced that the wheel, one of the tallest in the world, would be located on the Staten Island waterfront, next to the baseball stadium and the Staten Island Ferry terminal. The New York Wheel is expected to attract 4.5 million visitors annually and as of this week, developers are projecting first year pre-tax revenues of $127.85 million when the wheel opens in 2017.


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    12 Comments
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    Liepa
    Liepa
    8 years ago

    If true, and I’ve no reason to doubt Laufer, sue them for all you can!

    Mark Levin
    Mark Levin
    8 years ago

    Holy moly! They think they’re going to get four million people a year to come to this? Are they out of their mind!?!

    This Hasid better be darned sure that he’s 1000% correct otherwise he’s gonna look like an even BIGGER fool.

    Frish
    Frish
    8 years ago

    Oiy vi mehut inz feint

    DOVE1
    DOVE1
    8 years ago

    Meir Yosel Go .You can do it .the Almighty will help you .don’t give up …lots of luck…Brucha vehatzlucha and Siato Dishmayo

    ayoyo
    ayoyo
    8 years ago

    the double decker busses were also started by a frum guy who was pushed out ,because of —.

    8 years ago

    Sue them and teach them “WHAT GOES AROUND COMES AROUND”

    8 years ago

    you rolled in the london bus now you want to roll around the Statan island water front using the london landmark . U would think NYC would have there own ideas.

    8 years ago

    i know nothing about this deal or the viability of this big ferris wheel in staten island thats supposed to attract 4.5 million people a year, however, as a rule of thumb, whenever there’s money there’s always vultures picking at it, so that leads me to believe there’s a lot of money at stake here…

    BuckyinWisconsin
    BuckyinWisconsin
    8 years ago

    Hasidic levush is very off putting to those not familiar with it. Even for those of us who are, it is pretty strange looking.

    Combine that with the obesity that is prevalent in the frum community, and the fact that many Hasidim do not have a great command of the English language, and I could see it putting off investors.

    Now, with that said, if I had a non English speaking, obese non frum man I also would not include him in investor meetings.

    Investors like to see see young fit well dressed articulate business people, and yes, that is a prejudice.

    But if you know this, then put your best people forward.

    Now, this in now way excuses shutting someone out of the deal, and he has a case. My only point is, Hasidic levush and mannerisms can be very strange and intimidating to many people.