Friday, September 07, 2007

More Departures from Thor's Coney Island Team

Yesterday, we noted in a post on Curbed that Thor Equities and developer Joe Sitt had parted company with spokesperson Lee Silberstein and the Marino Organization. It was unclear who had initiated the split. This morning we can report, based on a tip from another reliable source, that Thor has also parted ways with Kramer Levin, the firm acting as its land use attorney. In fact, our source reports that the lawyers "abandoned ship," which would seem to indicate that they jumped rather than were pushed. However, the cause of the abandonment is unclear.

Even if you are not into personnel moves, the changes are interesting. With the Coney Island process and negotiations seemingly at a critical juncture, the departure of key team members certainly would seem to raise the possibility that things may not be going as well as the developer had hoped. Or that they may, in fact, be going quite badly and that creatures are abandoning the USS Sitt. This is pure conjecture on our part, but it would seem odd that team members would be quitting or being fired if things were going well and the developer was on the verge of announcing that things will be moving forward as planned.

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Anonymous Anonymous said...

very strange for a law firm to leave a representation like this. they get paid to tackle tough problems. maybe he's not paying his bills.

5:08 PM  

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