Mr. Lebewohl said that there were five years left on his lease with the previous owners, Sterling Equities, who sold the building in August.

The program was given its initial financial backing by Fred Wilpon, chairman of Sterling Equities, a large developer-owner.

The other is a partnership of the Mets baseball organization, Sterling Equities and Blumenfeld Development.

"We are seeing the begin of that formation now," said Mr. Katz, president of Sterling Equities, a real-estate development concern.

His father, Saul B. Katz, is president of Sterling Equities.

Today, they are both vice presidents of Sterling Equities.

It was taken over in April 1994 by the Albanese Development Corporation and Sterling Equities.

Mr. Wilpon is also the chairman of Sterling Equities , a real-estate development company.

He is also co-founder (with Wilpon) and Chief Operating Officer of Sterling Equities.

Wilpon currently serves as Chairman of Sterling Equities.