Heir demands details on White Plains real estate empire

An heir to a White Plains family real estate conglomerate is suing his brother for access to financial records and for an accounting of the business.

Robert Glantz, of White Plains, sued Paul Glantz, of Manhattan, Glantz Realty, of White Plains, and 14 other real estate entities in a complaint filed on April 17 in Westchester Supreme Court.

“Upon being provided with complete access to all books and records,” the complaint states, “Robert should be capable of determining the propriety of the distributions made and the expenses disbursed by Paul … in furtherance of the companies’ business activities.”

The brothers’ father, Irwin Glantz, was the founder of Windsor Properties, a real estate development, investment and management firm that owned apartment complexes, shopping centers and offices.

Many of the holdings are in Connecticut, such as the North Street Shopping Center in Danbury, and properties in Milford, Middletown, and Waterbury.

After Irwin Glantz died in 2015 and his wife, Gene, died in 2016, Paul, Robert and their sister, Judith, inherited the companies.

Paul, according to the complaint, had played an active role in the family business before his father died, and took on control of day-to-day operations afterward. He also was designated as the administer of the trust.

Robert’s complaint does not describe any role he has served in the family businesses.

But a year ago he began demanding access to records. His attorney asked for tax records, minutes of meetings, balance sheets, profit and loss statements, ledgers, accounting software reports, bank statements, real estate appraisals, and more for Glantz Realty and the various real estate entities.

Paul’s attorney provided selected documents, according to the complaint. But Robert, as a shareholder or partner in each company, directly or through Glantz Realty, wants access to everything.

“Robert is entitled to complete and unfettered access to the books and records of the companies, including all the financial information contained therein,” the complaint states. Without full access, “Robert has been deprived of the knowledge of the financial status of the companies.”

Paul Glantz did not reply to an email asking for his side of the story.

Robert Glantz is represented by White Plains attorney Albert J. Pirro Jr.