CBGB man leaves behind multi-million fortune
CBGB
Even his family did not know Hilly Kristal was wealthy
Founder and owner of legendary New York punk club CBGBs, Hilly Kristal, has left an unexpected fortune in his will.
Kristal, who died in late August, was reportedly worth $3.7million, according to a report in the Village Voice.
Kristal’s family are apparently already at odds over the fortune.
The report says that Kristal’s son Dana Kristal is unhappy with his sister Lisa Kristal Burgman for encouraging their elderly mother to sign away her rights to the company in 2005, when he says she was showing signs of senility.
Karen Kristal, ex-wife of Hilly, worked at the club from its inception in 1973 to the early 1990s, and the Voice says she was highly respected and “developed a reputation among patrons, bouncers, bartenders and musicians alike, as a bit of a humourless hard-ass”. She reportedly even scared , who would hide their joints when they saw her coming.
It is also reported that Karen was the sole owner of the club’s parent company and her name was on CBGBs liquor license. When she signed over the license along with her interest in the company, she received no compensation.
Dana and Karen also told the Voice that both Hilly and Lisa informed them there were no assets, and were shocked when they found out he owned a $600,000 property in New Jersey.
In his will, Kristal was confirmed to be worth $3.7million. Lisa Kristal Burgman is named co-executor and her brother Dana was left $100,000 in a trust.
--By our New York staff.
Find out more about NME.
Kristal, who died in late August, was reportedly worth $3.7million, according to a report in the Village Voice.
Kristal’s family are apparently already at odds over the fortune.
The report says that Kristal’s son Dana Kristal is unhappy with his sister Lisa Kristal Burgman for encouraging their elderly mother to sign away her rights to the company in 2005, when he says she was showing signs of senility.
Karen Kristal, ex-wife of Hilly, worked at the club from its inception in 1973 to the early 1990s, and the Voice says she was highly respected and “developed a reputation among patrons, bouncers, bartenders and musicians alike, as a bit of a humourless hard-ass”. She reportedly even scared , who would hide their joints when they saw her coming.
It is also reported that Karen was the sole owner of the club’s parent company and her name was on CBGBs liquor license. When she signed over the license along with her interest in the company, she received no compensation.
Dana and Karen also told the Voice that both Hilly and Lisa informed them there were no assets, and were shocked when they found out he owned a $600,000 property in New Jersey.
In his will, Kristal was confirmed to be worth $3.7million. Lisa Kristal Burgman is named co-executor and her brother Dana was left $100,000 in a trust.
--By our New York staff.
Find out more about NME.
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