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New York

Rabbi Pinto’s West Side synagogue site hits the market

Heritage at Trump Place unit owned, listed by Keller Williams New York founder Ilan Bracha

From left: Rabbi Pinto, 240 Riverside Boulevard and Ilan Bracha
From left: Rabbi Pinto, 240 Riverside Boulevard and Ilan Bracha

The planned home of Rabbi Yishayahu Yosef Pinto’s Shuva Israel West Synagogue is now back on the market for $1.75 million.

Ilan Bracha, founder of Keller Williams New York, has the 240 Riverside Boulevard listing. The 2,786-square-foot space, which includes a private entrance on 72nd Street, was the planned home of Shuva Israel West Synagogue.

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B+B Investment Group, an entity co-founded by Bracha and Haim Binstock, bought the ground-floor space for $1.65 million in 2008 and planned to donate it to Rabbi Pinto, according to the New York Observer. But a series of setbacks hindered the plan, such as a condo board judgement against Bracha in Binstock in 2010 for allegedly failing to pay common charges, interest and other fees. Bank of America then initiated $1.2 million in foreclosure proceedings against Bracha, Binstock and Rabbi Pinto in May 2011.

Pinto may soon also lose his East Side synagogue at 122 East 58th Street, as Manhattan-based private equity firm Corigin Real Estate Group filed to foreclose on $20 million in loans on the property last week, as The Real Deal reported. [NYO] — Julie Strickland

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Ilan BrachaRabbi Yoshiyahu Yosef Pinto