Newsday from New York, New York • 162

1 Free IBM Seminars- 3 Marcos Auctions Tough to Master University and Fordham Law School. After a stint with the law firm of Breed Abbott Morgan and a founding role at the cityB Public Development its real estate arm, he joined the downtown law firm now known as Fried, Frank, Harrison, Shriver Jacobson in 1968. He became a partner there in 1972, but left in 1977 to set up his own shop specializing in real estate law. Ten years later, he and his partners merged with the New York office of Gaston Snow, a Boston firm. In June, EstrofT was named special master for the Marcos properties.

He accepted the job because its big, and I knew it would be prestigious and I knew it would be high profile. Youre always looking to expand your horizons. If I had to Bit and draft leases all day, Id put a gun to my head. He thinks he may have been chosen partly because, with at least 24 lawsuits revolving around the Marcoses affairs, there werent many lawyers in New York who could avoid conflicts of interest. His personality may have helped, he added: What was needed was somebody who could get it wrapped up, a can-do-type person, a closer.

Hes gotten raves for his competence and professionalism. To put all the pieces together has been incredible, said Burt Kesnick, a developer who bid on 40 Wall Street and has considered bidding on the Crown Building. EstrofT says hes in an unusual position because foreclosure is commonly a state procedure, and this action is taking place in federal court. Also, most foreclosure actions result in settlements, not sales at auction, but settlements werent possible in this case. Thus, there are few precedents, and the tough Manhattan real estate operators interested in bidding are watching his every move.

This is EstrofTs first stint as a special master, and hes eijoying it. Would he do it again? Why not? You learn as you go along, he said. Theres no black and theres no white. It aint easy Youre dealing with people where litigation is a way of life. ill Continued from Page 2 under the building, and worked out a solution to a dispute over the ground lease.

EstroiT tries to stay away from the messy ownership battle and keep a narrow focus on the tasks at hand. The only time he allows himself the luxury of looking at the broader picture is when he talks about the situation with his children. He has three daughters in college and a son in high school in Chappa-qua, where he lives with his wife, Susan. This is the flrat thing Ive done in 22 years that theyre interested in, because of Marcos and the Philippines, and because of the international flavor, said EstrofT, who keeps pictures of his children on the windowsill next to his desk, framing his view north along Fifth Avenue from 53rd Street. The best part of it has been that I my kids say, Hey, my father does something besides bring home stacks of paper.

EstrofT also appreciates getting back in the trenches after climbing the lofty peaks of real estate finance. As a high-powered Manhattan real estate attorney, a partner at Gaston Snow, he found the nature of his work changing as the New York real estate industry evolved into a sophisticated international marketplace dominated by giant institutions that own or provide financing for many big sales and developments. He worked on a lot of esoteric financings You wrap real estate in so many layers of paper, EstrofT said in a recent interview. I found myBelf going from a nuts-and-bolts real estate lawyer to a paper producer, a corporate lawyer. I find that boring.

Now Im back to the screaming and yelling, the Screw you, you can try that but you won't get to first base 1 love that, said EstrofT, leaning back in his chair. I love the give and take. Es-trofTs street-smart toughness comes through, not only in his earthy speech but in a way of listening that makes clear hell brook no pretension. EstrofT was bom in the Bronx, reared in Mt. Vernon, and went on to Lehigh Find out how your business can benefit from the latest computer solutions Its great to have a growing business or profession.

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7, 9:30 -Noon Transfiortation: I.TI. Trucking Frri ghtl crminal Automation NW 2K, 9:00 Noon Continued from Page II cr-than-cxpectcd earnings for the rest of 1989 and 1990. In addition, the strategy could be aimed at Coors, which on Sept. 25 announced plans to acquire Stroh Brewery Co. for $425 million.

The deal, pending approval from the Justice Department, would increase Coors market share to about 19 percent, making it No. 3 behind Anheuser-Busch and Miller. Amid the swirl of marketing wars, new products and price cuts, the new labels are going to cost alcohol-makers money. Although the wine and spirits industries havent yet determined how much, the beer industry expects to spend about $20 million refitting print cylinders and other equipment. Still, analysts say it is unlikely these costs will translate into higher prices.

The reason? Too much competition. They liken the move to the early 1960s, when warning labels appeared on packs of cigarettes. There was no appreciable decrease in cigarette smoking until 1983, and that had more ta do i with health concerns than the governments increasingly dour warnings. A few beer companies, including Miller, Coors and Anheuser-Busch, have started putting warning labels on cans and bottles, and theyre keeping to the letter of the law, which requires the type to be at least 2 millimeters high. The label generally is on the side of the container, and it is about as conspicuous as the list of ingredients.

The labels have confused European brewers and wine exporters. John Dc Luca, president of the Wine Institute, which represents 90 percent of all the wine produced in California, recently returned from meetings in Europe where the warning label issue met with raised eyebrows. The labels come only a few years after the U.S. government-mandated warnings about sulfites in wine. The embarrassment is trying to explain to foreigners how come your country engages in such aberrations, says Do Luca.

They say, Weve been doing this for thousands of years. What kid water are you drinWng i i (t ei I-rod or reservations at cither of the alxive locations, call: jj- (516) 349-3510, ext. 25. I 'tVr i Hi'i- I.