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They say football is a game of inches. That is also true of the bruising sport of New York real-estate development.

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Gary Barnett, one of New York City’s most prominent real-estate moguls, is the founder of Extell, which boasts an expansive portfolio including two of Manhattan’s tallest residential towers. But Barnett has hit a potential stumbling block in his quest to develop the first luxury hotel in the midtown Diamond District. While the 33-story building would soar over much of the block, Barnett, a former diamond dealer himself, has been waging a protracted legal battle over 18 inches.

At issue is a legal doctrine called adverse possession, which allows one person to claim another’s land after openly using it for years.&nbsp;

Adverse possession can prove such a threat that owners sometimes bring lawsuits over tiny amounts to prevent such claims in the future,&nbsp;said Massimo D’Angelo, a real estate attorney. “Owners need to be vigilant in stopping any sort of construction that encroaches on their property, however small it may be,”&nbsp;he said.&nbsp;&nbsp;

To read the full article, please click&nbsp;<a href="https://www.wsj.com/articles/luxury-hotel-new-york-diamond-district-614f658d">here</a>.

"In New York City, Some Real-Estate Battles Come Down to Inches," by&nbsp;Corinne Ramey was published in the&nbsp;<a href="https://www.wsj.com/articles/luxury-hotel-new-york-diamond-district-614f658d">Wall Street Journal</a>&nbsp;on August 10, 2023.&nbsp;

In New York City, Some Real-Estate Battles Come Down to Inches

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In New York City, Some Real-Estate Battles Come Down to Inches

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