Houlihan Parnes Realtors and CLK Properties are facing a foreclosure lawsuit filed by LNR Partners, the Miami Beach-based special servicer, alleging the firms defaulted on $53 million in loans backed by a Long Island office property. According to lawsuit papers Houlihan and CLK defaulted on the loan in November 2010, by failing to make monthly [...]
Alexico Group’s unsold cooperative apartments located in two Gramercy Park buildings found their new owner at a foreclosure auction last week. Forest Hills-based multifamily landlord Bronstein Properties paid $15.05 for 89 apartments. Bronstein bought the shares securing 29 apartments at the 164-unit 201 East 25th Street, and 60 apartments at the 280-unit 200 East 27th [...]
The Yorkville apartment building will be foreclosed and auctioned off, ruled a state Supreme Court judge last Monday. The owners of the five-story walkup rental building located at 501/1/2 East 83rd Street are Yosii Zaga and Ben Zion Suki through their Livorno Properties company. A Suky-backed entity, Wall Time Realty acquired the building for $3.5 [...]
Alexico Group’s Mark Hotel received a foreclosure notice from Dune Real Estate Partners who is ready to foreclose on loans granted by the Anglo Irish Bank. Simon Elias and Izak Senbahar of Alexico used Mark Hotel as collateral for the five hotel-related loans in Manhattan’s Upper East Side. There are several loan on the building: [...]
When a retail space into synagogue conversion started three years ago seemed a dream come true, but now, in 2011 the developers of the Heritage at Trump Place are facing foreclosure. In May, Bank of America filed a $1.2 million foreclosure lawsuit against a rabbi-to-the-real-estate-stars, a top selling broker and a developer involved in the [...]
Although co-op apartments entering foreclosure and Manhattan foreclosures were up, the total number of foreclosure in the five boroughs declined a significant 56% during Q2 of 2011 compared with the same period a year prior, PropertyShark reported. During Q2, 66 homes in Manhattan entered into foreclosure, more than double the number of foreclosures the same [...]
The owners of the stalled 16-story Allen Street Hotel project, DAB Group face a foreclosure lawsuit, after the loan was purchased by Maverick Real Estate Partners from Manhattan. Maverick acquired a $5.5 million note from Brooklyn Federal Savings Bank, after the New York based developer, DAB Group went into default, the complaint filed July 1 [...]
One in 10 residential mortgages in New York City is seriously delinquent, a recent analysis of the regional housing market issued last week by the Federal Reserve Bank of New York. “Mortgage delinquencies and foreclosures remain a serious concern for our region,” said Kausar Hamdani, SVP and head of regional and community outreach at the [...]
Berry-Hill Art Gallery was rescued from foreclosure by an unlikely benefactor, a fund controlled by finance titan John Paulson, who purchased the loan as well as the mortgage on the gallery’s property, an elegant townhouse near the Frick Collection. Berry-Hill, which owns work by artists including Winslow Homer and Milton Avery, its website says, defaulted [...]
