Terror Victims may Seize Iranian-owned Manhattan Tower

Terror Victims may Seize Iranian-owned Manhattan Tower

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Source: Wikimedia Commons
Source: Wikimedia Commons

Federal Judge Katherine Forrest last week ruled that the Iranian companies which own the 650 Fifth Avenue building in Manhattan must forfeit the property to victims of terrorism who hold billions of dollars in judgments against Iran.

The victims include families who lost relatives in the 9/11 attacks and the 1983 Beirut bombing. The New York Daily News reports that the victims claimed the $500 million midtown tower after Federal Judge George Daniels decided in 2011 that Iran was partly responsible for the 9/11 attacks because it provided travel support to terrorists. The official 9/11 Commission Report details Iran’s contact with terrorists but noted that “we have no evidence that Iran or Hezbollah was aware of the planning” of 9/11.

iHLS – Israel Homeland Security

According to HLS News Wire the property boasts 380,000 square feet of prime real estate with tenants including retailers Juicy Couture and Godiva. Real estate experts believe the building may be worth more than $700 million, but Forrest has yet to rule on how the money or ownership would be distributed.

Lawyers involved in the case said the tower will likely be sold and the proceeds divided among the claimants, possibly in the next six months to a year. The Iranian owners have vowed to appeal, but the building assets could possibly be distributed while the challenge is pending, the lawyers said. The U.S. Treasury Department continues to exercise tight sanctions against Iran and a number of Iranian companies and organizations.