A Brooklyn developer took his partner for a ride, cutting him out of a venture to build the world’s largest Ferris wheel on Staten Island, says a $20 million lawsuit.
“The object of the joint venture was a profitable business based on the Wheel as a unique tourist attraction,” the Manhattan Supreme Court suit says.
Nik Lavrinoff, of the investment firm Builders Capital Group, claims he put up $90,000 and used his engineering background to help win a bid for the proposed 625-foot-high wheel at the ferry terminal.
But partner Meir Laufer, of Plaza Capital Management, “hijacked” the venture and killed Lavrinoff’s 50 percent share from the expected proceeds generated by an attraction’s expected 4.5 million annual visitors, the Manhattan Supreme Court suit says.
Laufer did not return calls for comment.
The Staten Island Modeled after the popular “London Eye” disputed Ferris wheel is setexpected to open in May 2016.Dubai challenged the height claims when it announced plans to surpass the Staten Island wheel with its own 688-foot project in February.