Wall Street CEO Richard Handler Sues Over Construction Threatening His Penthouse View

| by Sarah Fruchtnicht

A Wall Street CEO has filed a petition to stop the construction of a building because it will ruin the view from his penthouse.

Richard Handler, last year's highest earning banker who took home $58 million, sued the landlord of 50 Varick St. and the Department of Buildings on Monday.

Handler claims that adding two stories to the office building neighboring his $23.7 million penthouse to accomodate a rooftop restaurant is against zoning guidelines.

Handler, 51, aims to stop construction until the 792-person space is reviewed by building inspectors, accoring to court documents filed in Manhattan Supreme Court.

“The project will significantly obstruct the panoramic river views from (Handler's) apartment,” the petition states.

“Use of the building roof deck as an outdoor event space and its concomitant noise will impair the use and value of (Handler's) apartment.”

Handler used a holdings company, Raesky, to buy the penthouse on the 14th floor of 1 York St. in 2010. Raesky is now filing the petition to interrupt the construction and oppose changes to 50 Varick.

“Petitioner faces significant...light impingements from the project and future roof deck use as a late night rooftop bar,” the suit claims.

The view at stake is of New Jersey.

“It will block their views! What are you going to do?” said construction worker on the project Tito Hernandez, 29. “We live in the city — sooner or later, everybody gets blocked.”

The suit could delay the opening of 50 Varick and impede London-based Spring Studios’ plan to turn the building into a hip ad firm housing a production facility, library, 14 photography studios, casting suites, and the 20,000-square-foot roof terrace.

Sources: NY Daily NewsDaily Mail