The Real Deal New York

Landlord files for bankruptcy amid legal fight over W’burg building

Harry and Victor Einhorn have been trying to evict senior center tenant since 2013

April 06, 2016 06:15PM

211-Ainslie-Street1

211 Ainslie Street in Williamsburg

Father-and-son developers Harry and Victor Einhorn filed for Chapter 11 bankruptcy in the middle of a legal battle with a tenant over ownership of a Williamsburg building.

In December 2013, the Einhorns, who control the entity 207 Ainslie LLC, paid $4.5 million for 211 Ainslie Street. When the Einhorns took over the property, they increased rent for the Swinging Sixties Senior Center and Small World Child Care by about $7,000 to $40,000 a month.

They then sent the center, which is run by Conselyea Street Block Association and another nonprofit, an eviction notice on Christmas Eve. By June 2014, politicians and community activists wanted the city to buy the center.

Conselyea fought the eviction and argued that when the building hit the market, the nonprofit and the city had right of first refusal because of a lease clause with the previous owner, Crain’s reported.

Recently, the nonprofit offered the Einhorns $8 million, which included discretionary funds from City Council member Antonio Reynoso and the mayor’s office, according to Crain’s.

It appeared there might be a settlement when the Einhorns filed for bankruptcy on Friday, Crain’s reported.

The bankruptcy filing states that neither Conselyea or the city had right of first refusal. In the bankruptcy documents, the Einhorns claimed 211 Ainslie could have an asking price of $14 million if it hit the market. [Crain’s]Dusica Sue Malesevic

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