Kasowitz Represents Owners of Staten Island Yankees in Winding Down Operation of Richmond County Ballpark
Kasowitz Benson Torres represented Nostalgic Partners, the owners of the former New York Yankees minor league affiliate, the Staten Island Yankees, in winding down its operation of the Richmond County Ballpark, a waterfront stadium with more than 7,000 seats in Staten Island. Nostalgic Partners had leased the ballpark from New York City’s Economic Development Corporation (EDC) for purposes of operating the Staten Island Yankees. However, in 2020, Major League Baseball (MLB) decided to contract the minor leagues from 160 to 120 teams, and the New York Yankees chose to shut down the Staten Island Yankees.
Kasowitz, on behalf of Nostalgic Partners, negotiated the resolution of all its outstanding obligations to the EDC and the assignment of the lease and sale of property to Staten Island Entertainment (SIE), an organization backed by a group led by John Catsimatidis, CEO of Gristedes Food. SIE has since announced plans to have a team from the Atlantic League, a smaller league whose players are former MLB players, play in the stadium.
The Kasowitz team representing Nostalgic Partners is led by Jennifer S. Recine, partner and co-chair of the firm’s Real Estate Litigation group, and partner David Szeker, head of the Real Estate Transactions group.