Lawsuit alleges Signature Bank aided FTX fraud

Days after FTX’s spectacular collapse, Signature Bank was doing damage control, trying to play down its exposure to the crypto exchange’s alleged fraud. The bank, an important real estate lender in the New York metro area, assured investors just 0.1 percent of its deposits were linked to FTX. Turns out, there was more to the story. A lawsuit filed Monday alleges that the major multifamily lender not only knew about FTX’s fraudulent behavior but helped

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Domain sues tenants who withheld rent when gas went out

For four months, tenants at a luxury Greenpoint building quit paying the rent after going more than three months without gas service. They racked up over $500,000 in arrears. Now landlord Domain Companies wants at least some of that money. In a lawsuit filed last week, Domain asked a judge to force the 87 residents to pay the arrears, then determine how much free rent the tenants are entitled to. The firm, which says gas

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AG slaps Compass on wrist for voucher discrimination

Compass, deep in an existential crisis, got a visit Tuesday from the ghost of blunders past. The brokerage reached an agreement with New York Attorney General Letitia James over allegations of voucher discrimination it already paid for once, six months ago. In April, the brokerage settled a suit brought by the watchdog group Housing Rights Initiative alleging Compass discriminated against tenants trying to rent with housing vouchers. To make amends, the firm agreed to bigger

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Croman sues White Horse Tavern owner for $650K back rent

Landlord Steve Croman, typically on the receiving end of lawsuits, stepped into the plaintiff’s position this week, suing the operator of the historic White Horse Tavern for back rent. Bar owner Eytan Sugarman is on the hook for over $650,000 and counting after struggling to make payments through much of the pandemic, the lawsuit claims. A ledger of the tenant’s payment history shows Croman helped Sugarman by offering a monthly concession that covered half his

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Naftali files plans for UES building. Smart money’s on condos

Another Naftali Group building is coming to the Upper East Side. Chances are it’s a condominium. The developer modified its plans Monday to construct a mixed-use building at 255 East 77th Street, city records show. PincusCo reported the initial filing early this month. The residential building will rise 36 stories, according to the development tracker Bldup, and include 55 units and over 3,600 square feet of ground-floor retail space. The plans do not specify whether

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A&E lands $188M loan for UWS rentals — 5 months after buying them

Five months after dropping a quarter of a billion dollars on a Riverside Boulevard apartment building, Doug Eisenberg’s A&E Real Estate nabbed financing for the 354-unit property. Late last month, the firm secured a $188 million dollar mortgage from Los Angeles-based Mesa West Capital on 140 Riverside Boulevard, which it bought from Sam Zell’s Equity Residential in April, public records filed Monday show. A&E declined to comment on the specifics of the loan, but its

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Auto shop holdout throws wrench into East Harlem project

 For the second time this year, a Sergey Rybak development has been stymied by a holdout. After an uncooperative synagogue stymied his plans for a 20-story mixed-use building on the Upper East Side, an East Harlem auto shop is poised to dismantle another project by the Brooklyn-based developer. Prestige Automotive, which has run a car repair shop at 2013 Third Avenue for the past 15 years, stands between Rybak Development and his vision for a

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KKR, Dalan buy Downtown Brooklyn rental tower from Brookfield for $190M

UPDATED July 21, 2022, 1:00 p.m.: In its quest to double its $36 billion real estate portfolio over the next few years, KKR told The Real Deal in December that it would focus on markets and sectors it felt were poised for a rebound. The 365-unit rental tower at 80 DeKalb Avenue, which KKR, in partnership with Dalan Management, picked up from Brookfield Properties for $190 million, may offer that upside. Among the earliest of

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