Page 16 - [George_Ross,_Andrew_James_McLean,_Donald_J._Trump(BookFi)

P REF ACE

world of real estate attorneys. I knew that working with him was a
great opportunity to learn the intricacies of real estate law from a
perfectionist. So I soaked up every bit of helpful information I
could from him. I became adept at drafting leases, real estate docu-
ments, and participating in all types of transactions. My prior liti-
gation experience added to the perception that I was a competent,
though young, real estate attorney.

LEARNING THE REAL ESTATE BUSINESS

In 1955, one of my clients asked me to draft a commercial lease for
him even though he was to be the tenant. Usually, the landlord’s at-
torney drafts the lease, but in this case the landlord told my client to
have his lawyer prepare the lease. So I drew up the lease and inserted
a provision stating that the tenant didn’t have to pay any rent before
the landlord made a certain elevator operational. My client moved in
and, as it turned out, the elevator inspector for New York City re-
fused to accept the elevator repairs the landlord made, insisting that
only a brand new elevator would get his approval. The elevator stayed
out of operation for a very long time, but throughout that period my
client was still able to carry out his normal business operations.
Theowners, Sol Goldman and Alex DiLorenzo Jr. had a “tenant
in possession” utilizing the premises for its normal business opera-
tions, but because of that clause in the lease, the tenant was not paying
them any rent! Although the landlords were very unhappy they were
helpless.
In the mid-1950s, Goldman and DiLorenzo, who were both
multimillionaires, had decided to invest in real estate on a huge scale.
I had decided to leave Dreyer and Traub because I had been told that
there was no possibility for me to become a partner in the firm. I
happened to mention my impending departure to Sol Goldman and

xv