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Shortly after forming the New York Land Co.in 1981, Joseph and Ralph Bernstein set the local real estate industry abuzz when they concocted a $369-million bid to buy the Pan Am Building. They were a couple of young upstarts, virtual unknowns.
Although the attempt failed, it heralded the arrival of a young duo who would become known for their ability to put together transactions through a series of corporations and partnerships that make it difficult to ascertain the actual owners.
These days they would rather disassociate their name from the news linking...