Barclays Center Developer Backs Off Tax Appraisal Suit

Law360, New York (November 26, 2012, 4:32 PM EST) -- A subsidiary of Forest City Ratner Cos. LLC, the developer of the Barclays Center in Brooklyn, N.Y., said Monday that it had withdrawn its suit against New York City over a $741 million property tax appraisal for the newly opened arena and a related residential tower.

The developer said in a letter to the New York City Law Department that it had mistakenly challenged the appraisals for the Barclays Center and the first of 15 residential towers to be built at the 22-acre site — a...
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