NEW YORK — Donald J. Trump said Tuesday that rival developer Leona Helmsley has agreed to sell a piece of Boardwalk property in Atlantic City, N.J., apparently ending a nasty dispute between the New York real estate magnates that flared into public view a month ago.
According to Trump, Helmsley agreed to sell the small parcel, which he needs for plans to build a non-casino hotel on the Boardwalk. Helmsley "totally conceded defeat" in her "attempt to deprive me of something to which I am entitled," said Trump, who last month denounced Helmsley in a letter to her that was leaked to the New York Post.
A spokesman for Helmsley could not be reached for comment. Last month, a spokesman for Helmsley said the developer could not comment because of a gag order issued by a federal court in a criminal tax evasion case pending against her.
In his letter last month, Trump called the wife of real estate baron Harry Helmsley a "disgrace to humanity" and charged that she has "virtually destroyed" her husband through her mismanagement of his affairs.
According to Trump, Leona Helmsley has agreed to sell the property to Penthouse International, which in turn has agreed to sell it to Trump. He said the deal was sealed Monday.
The parcel's ownership became an issue when Trump paid $56 million to buy a larger chunk of real estate from Penthouse International Inc., with plans to convert the unfinished casino that stood on it into a non-casino hotel. The piece had little value unless Trump could also get Helmsley to transfer title to the second parcel; she had held up what should have been a routine transaction.
Trump said the disputed parcel is now worth considerably more than the $21-million option price he's paying, which he said was a reason Leona Helmsley had tried to prevent the sale. The property, between Trump Plaza and Caesars casinos, was owned by Broadway & Missouri Corp., a company controlled by Harry and Leona Helmsley.