The city's Board of Standards and Appeals approved plans for a luxury apartment tower in Sutton Place today. The project has gone through a tortuous development process and generated heated opposition from a community group, which immediately vowed to sue. Foreclosure News
Madison Realty Capital has moved to foreclose on one of Raphael Toledano's major East Village portfolios, sources told The Real Deal , less than 18 months after Toledano pulled off the audacious and heavily leveraged acquisition. Just three days before Madison filed to foreclose on the buildings, sources said Joseph Sutton, son of retail mogul […]
Having prevailed in a lawsuit, foreclosure proceeding and high-stakes bankruptcy auction for one of the city's most talked-about development sites, Gamma Real Estate officially filed plans for an 844-foot residential tower at 3 Sutton Place. N. Richard Kalikow's firm, which paid $ 98 million for the site and air rights earlier this month, submitted plans […]
N. Richard Kalikow's Gamma Real Estate outbid Brooklyn investor Isaac Hager Tuesday to acquire a prime Upper East Side development site at 3 Sutton Place in a hotly anticipated foreclosure auction, The Real Deal has learned. Gamma, which was the original lender on the deal, paid about $ 86 million for the site plus $ […]
A consortium of community members and elected officials continue to rally against a skyscraper proposed for a low-rise residential block on East 58th Street. The East River Fifties Alliance, which includes officials like City Council Members Dan Garodnick and Ben Kallos, Manhattan Borough President Gale Brewer, and neighborhood stakeholders, are not letting up on their […]
A Sutton man involved in a group of businesses that falsely advertised themselves as nonprofit foreclosure prevention organizations has been ordered to pay more than $ 600,000 for soliciting and spending illegal advance fees received from distressed homeowners, according to the office of Attorney General Maura Healey. According to the attorney general's office, Suffolk Superior […]
A Sutton man charged with cheating distressed homeowners has been ordered to pay $ 600,000 in restitution, penalties and fees. The attorney general's office says Gailon Joy was involved in running a group of businesses that falsely advertised themselves as nonprofit foreclosure prevention organizations. Foreclosure News
Gamma Real Estate, the mezzanine lender on the beleaguered condominium project at 3 Sutton Place, is suing real estate investors Philip, Michael and Seth Pilevsky, alleging they helped developer Joseph Beninati to file for bankruptcy at the project in order to take a piece of it. In June 2015, Gamma lent Beninati's Bauhouse Group about […]
Today we return to the Sutton Place tower saga — a plan that once called for a 900-foot tall tower on the Upper East Side, which is all but doomed at present due to a lack of financing. On Wednesday, development firm Bauhouse Group, put the project into Chapter 11 Bankruptcy, according to the Wall […]
It seems the battle for control of one of the city’s most talked-about development sites has only just begun. Bauhouse Group chief Joseph Beninati plans to take legal action against lender Richard Kalikow for allegedly conspiring to wrest control of his planned residential tower at 3 Sutton Place, he said in documents filed with the […]