The bitter $5 billion battle tearing a New York real estate dynasty apart

When Jane Goldman walked out of a Delaware courtroom after another day of testimony, she noticed her sister Amy and nephew Steven walking ahead of her.

“Wait a second,” she called out. “Family photo!”

They kept walking. Neither turned around.

It is difficult to imagine a scene more fitting for the Goldman family, one of the wealthiest and most secretive real estate families in the United States. The family once owned the Chrysler Building and the ground lease beneath the Plaza Hotel, and for nearly four decades it has run its vast business alongside an seemingly endless series of family disputes.

The gap at the center of the court battle is more than $500 million, but money is only part of the story. Allegations of extortion, threats and ransom demands have also emerged, along with suggestions that someone was considering hiring a hitman.

All of this is unfolding within a Jewish family whose name is largely unfamiliar to the public, but whose real estate holdings are hard to miss. Forbes once named the Goldmans the wealthiest real estate family in the United States. Today, they own at least 400 properties, including the land beneath The Mark and the Peninsula hotels and vast holdings along Fifth Avenue and Madison Avenue, including the Cartier building and entire blocks between 37th and 84th streets. The family also owns a 17% stake in projects at the World Trade Center site.

They owned the Chrysler Building, one of New York’s most recognizable landmarks, for about 15 years, as well as the ground lease beneath the Plaza Hotel, once owned by Israeli businessman Yitzhak Tshuva and now owned by Qatar.

The unusual feature of the empire is that the Goldmans do not necessarily have to own the building above the ground. In many cases, they own the land itself and lease it for periods that can run as long as 99 years. A…