Word: halperine
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After seven months of negotiations, Cassell and business partner Tani Halperin agreed to sell the piece of land on Harvard St. behind the Garment District building to the city for $2.9 million—an extremely profitable deal for the partners since Cassell had originally bought the entire Garment District lot for only $3.4 million. Cassell and Halperin will be keeping the majority of their land for the store. The proceeds from the sale will fund much-needed renovations to the 115-year-old textile factory building, saving the Garment District from falling off Cambridge’s list...
...article said that the deal was "extremely profitable" for the Garment District's president, Christopher Cassell, and real estate developer Tani Halperin...
...While Halperin said in a phone interview last week that "there is no doubt that this is a profitable deal" for the Garment District, upon further investigation by The Crimson, the Feb. 1 article's unambiguous assertion that the deal was "extremely profitable" for Cassell cannot be verified...
Cassell and Halperin purchased a plot of land at 200 Broadway for $3.4 million last May, according to both men. Also last spring, Cassell purchased an adjacent plot at 125-7 Harvard Street for $1.5 million...
...disagreement over development plans, Cassell and Halperin agreed to end their partnership in November, with Cassell buying out Halperin's 50-percent stake in the 200 Broadway property...