From left: Ilan Bracha, Rabbi Yishayahu Yosef Pinto and 240 Riverside Boulevard (building photo credit: CityRealty)

A three-year old plan to convert a 2,700-square-foot retail space into a synagogue at the Heritage at Trump Place may have collapsed, but the parties involved are trying to save it. In May, Bank of America initiated $1.2 million in foreclosure proceedings against a rabbi-to-the-real-estate-stars, a top-selling residential broker and a developer involved in the synagogue plans. According to the complaint, filed May 23, Rabbi Yishayahu Yosef Pinto, Ilan Bracha, who runs the Manhattan office for Keller Williams Realty, and his partner in development deals at B+B Investment Group, Haim Binstock, defaulted on their loan for a portion of Heritage at Trump Place at 240 Riverside Boulevard at 70th Street.

“As of May 16, 2011, the principal balance due and owing under the terms of the note was $1,207,694.24,” the filing says. Payments due to BofA have not been made since January, according to the filing. All three men are cited as part of the LLC — Pinto Bracha & Binstock LLC — that is named on the lien, according to city records. But attorneys for Pinto, Bracha and Binstock from the firm Mitofsky Shapiro Neville & Hazen fired back late last month. [more]

The Real Deal has had an action-packed schedule. We hit up the Charity: Water event at 123 East 10th Street, the largest and priciest home available in the East Village, hosted by Rubicon Property. We stopped by Core’s cocktail party on the 17th floor of 812 Fifth Avenue, which was recently redesigned by architect Joseph Dirand. We also dropped by the Griffin Court condominium in Hell’s Kitchen, where Gumley Haft Kleier was hosting a viewing party of this week’s HGTV’s realty reality show “Selling New York.” Meanwhile, back at the office we were letting our fingers do the walking and got some fun nuggets. Click here for more. [more]

From left: Howard Lorber, Dottie Herman and Ilan Bracha

From the January issue:
[Updated 1:30 p.m. with comments from Prudential Douglas Elliman CEO Dottie Herman] For years, Texas-based real estate franchise company Keller Williams Realty has wanted to get into the lucrative Manhattan market. The question was how. Now, the fast-growing company is betting that it’s finally found the right partner for the job, in the form of Manhattan superbroker Ilan Bracha, a managing director at Prudential Douglas Elliman and head of the powerhouse Bracha Group, the top-ranked team at Elliman in terms of gross commission income. This month, Bracha is launching the first Manhattan franchise of Keller Williams. [more]

From left: the Centurion, Jersey City’s Soleil Lofts and Toby’s Estate

Australian coffeemaker Toby’s Estate is looking to set up shop in New York City. The company, which currently runs six cafés in Australia and is working on new locations in Paris and Singapore, is seeking retail shops with between 1,500 and 2,500 square feet of space and at least 15 feet of store frontage. Meanwhile, the developers of Jersey City’s Soleil Lofts are offering buyers hundreds of dollars in gifts if they sign contracts at the 38-unit police precinct-to-condominium conversion by Jan. 31, 2011, and I.M. Pei’s the Centurion is about to cross the 50-percent-closed threshold. Click here for more. TRD [more]

 

Less than a week after Prudential Douglas Elliman’s Bracha Group ousted Prodigy Network as the sales team at Cassa NY Hotel and Residences, the

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Elliman’s Ilan Bracha is marketing the Azure.

HSBC and four other institutions have agreed to convert their $145 million construction loan into a shareholder loan at the Azure, at 333 East 91st Street, a 34-story residential tower which was the site of a fatal crane collapse in 2008. The developers of the Azure, the Mattone Group and the Dematteis Organization, said yesterday that their financing is intact and they are on track to sell the 93 apartments left at the 128-unit building, Crain’s reported. The new shareholder loan will allow the building to continue to operate while the developers sell units. As each unit is sold, the loan is paid down. “A year ago this would have been difficult to achieve,” said Douglas MacLaury, senior vice president at the Mattone Group. “This indicates that credit is beginning to flow back into real estate and is a testimony to the confidence lenders have in the building.” Ilan Bracha’s the Bracha Group at Prudential Douglas Elliman is handling marketing, after replacing Brown Harris Stevens. So far, seven units have closed and nine are scheduled to close shortly. An additional 19 units are under contract. [Crain's]

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Elliman’s Ilan Bracha offers World Cup tickets as an agent incentive while other brokers head to China, Ecuador

Some of the summer’s traveling real estaters, from left: Lance Nguyen, Fred Peters and Max Dobens

Some brokers are taking advantage of the sticky-hot days of July by leaving town. And in one case, this year’s World Cu [more]

Elliman’s Ilan Bracha offers World Cup tickets as an agent incentive while other brokers head to China, Ecuador

Some of the summer’s traveling real estaters, from left: Lance Nguyen, Fred Peters and Max Dobens

Some brokers are taking advantage of the sticky-hot days of July by leaving town. And in one case, this year’s World Cu [more]

Prudential Douglas Elliman’s Ilan Bracha and Azure

The Upper East Side luxury cond-op that was the site of a deadly crane collapse in May 2008 has been officially declared effective by the state attorney general, according to [more]

Prudential Douglas Elliman’s Ilan Bracha and Azure

The Upper East Side luxury cond-op that was the site of a deadly crane collapse in May 2008 has been officially declared effective by the state attorney general, according to [more]