The Real Deal New York

Posts Tagged ‘asher zamir’

  • 587 Fifth Avenue at center

    587 Fifth Avenue (center)

    The ongoing legal battle for 587 Fifth Avenue is heating up again.

    Investors Asher Zamir and Elyass (Elliott) Eshaghian filed a new round of lawsuits against each other to determine who has control over decisions that affect the property. This follows the botched 2011 sale of 587 Fifth to an investment group led by Crown Acquisitions. [more]

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  • 587 Fifth Avenue at center

    587 Fifth Avenue at center

    A New York state judge is scheduled to hear arguments from an investor in 587 Fifth Avenue — a 10-story office and retail building on a prime stretch of the shopping strip — who is trying to block developer Asher Zamir from selling the property’s leasehold to Crown Acquisitions.

    Elyass “Elliott” Eshaghian, president of Manhattan-based Evvan Importers, filed a derivative suit June 12 in New York State Supreme Court on behalf of investors in the property, alleging that Zamir made decisions about its future without his permission. [more]

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  • Michael Shah and Setai Wall Street

    Michael Shah and Setai Wall Street

    A New York federal judge threw out a securities fraud suit on Tuesday brought by Michael Shah’s DelShah Capital against Zamir Equities that arose out of a commercial-to-residential condominium conversion at Setai Wall Street, Law360 reported. [more]

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  • Kent Swig and 44 Wall Street

    The majority owners of 44 Wall Street have asked a judge to dismiss a lawsuit filed by affiliates of developers Kent Swig and Zamir Equities principal Asher Zamir, who claim to own a minority stake in the Financial District office tower formerly known as the Bank of America building. In the suit, filed November 2012 in New York State Supreme Court, Swig and Zamir claim that two entities—listed in court documents as New 44 Wall Street LLC and Kommersiella Fastigheter in NY 3 Corp—froze them out of a stake in the 23-story, 289,049-square-foot property. Swig—the president of Swig Equities and co-owner of Terra Holdings, the parent company of brokerages Brown Harris Stevens and Halstead Property— invested $3.5 million dollars and had a 12.2 percent stake in the initial partnership, according to court documents. … [more]

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  • alternate text
    Zamir principal Asher Zamir and the Setai Wall Street lobby

    An investor in the troubled Setai Wall Street condominium project in the Financial District filed a lawsuit against the developer and its lenders, including Anglo Irish Bank, to try and block the transfer of the deed which is being offered as part of a sale of the defaulted $150 million note.

    Manhattan-based real estate firm Delshah Group filed suit in New York State Supreme Court, seeking a court order to block the transfer of a deed-in-lieu of foreclosure for Zamir Equities’ Setai Wall Street, at 40 Broad Street. The deed transfer would follow the sale of the defaulted note. The note has not yet sold, court records indicate.

    Delshah filed the lawsuit Dec. 20, its third lawsuit at the property, claiming it is the largest member of the entity that controls the deed and does not consent to a deed-in-lieu. … [more]

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