Elie Hirschfeld

The daughter of Hirschfeld Properties founder, Abe Hirschfeld ,sued her brother Elie Hirschfeld, for fraud, alleging that Elie, the current president of the property group, took advantage of their late father’s ailing health and cheated his estate out of more than $300 million, the New York Daily News reported. In court papers filed with the Manhattan Supreme Court and seen by the Daily News, Rachel Hirschfeld also accused Elie of physically abusing their father and forcing him to sign over many valuable properties. In some cases, the suit alleges, Elie forged his father’s signature “on numerous transfer documents, thereby transferring assets and interests valued in excess of $300 million to himself, to the point where (the) father, whose net worth had been in excess of $1.5 billion, died in debt, and (Elie’s) net worth is now more than $1 billion,” the filing claims…. [more]

Hirschfeld Properties CEO Elie Hirschfeld and 330 East 61st Street (building credit: PropertyShark)

Manhattan property owner Hirschfeld Properties has several deals in the works, CEO Elie Hirschfeld told The Real Deal, and the first one to become official is a refinancing of its 175,000-square-foot building at 330 East 61st Street.

The $10 million refinancing closed last month, with a 6.28 percent fixed rate and a 20-year amortization period, Hirschfeld said. He noted that he made the transaction due to favorable market conditions and the previous loan coming due. Hirschfeld bought the land in 1980, public records show, and erected a structure specifically for a fitness center, which has since become Sports Club/LA, the city’s largest free-standing sports club, according to Hirschfeld, who is a triathlete himself (note: correction appended). While the refinancing was not necessarily done for any improvements within the building — the Sports Club is currently funding a three-year, cosmetic capital upgrade of the space — the firm simultaneously agreed to a $7 million credit facility with the refinancing lender, M&T Bank…. [more]

Elie Hirschfeld and 328 East 61st Street (building source: PropertyShark)

The Ballet Club has signed a lease with Hirschfeld Properties to move into the second-floor space at 328 East 61st Street, formerly the site of Rabbi Pinto’s Mosdot Shuva synagogue. The Ballet Club signed a five-year lease for $90,000 to rent the 2,850-square-foot space, which it will occupy starting in August after it moves from its current location at 201 East 67th Street, and Hirschfeld completes construction on the studio, according Elie Hirschfeld, head of Hirschfeld Properties. The Ballet Club replaces Pinto’s synagogue, which vacated the space about nine months ago, according to Hirschfeld, because it purchased the four-story building at 122 East 58th Street for $28.5 million in 2009, public records show. TRD… [more]

Elie Hirschfeld

Elie Hirschfeld is the president and CEO of Hirschfeld Properties, where he worked with his late father, parking garage titan Abraham Hirschfeld, for more than 20 years. A triathlete and an avid theatergoer (he’s been a voter in the Tony Awards every year since 1996), Elie Hirschfeld and his company were behind such projects as New York’s first open-air garage, the Hotel Pennsylvania and the Manhattan Mall. This week, The Real Deal talked to the developer, who is reportedly worth more than half a billion dollars (he wouldn’t comment on his wealth), about his portfolio, the Hamptons home he’s selling, the shocking scandal that rocked his family, and the Hirschfeld legacy.
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A Las Vegas underwear model who claims to be Tiger Woods’ fourth mistress, Jamie Jungers, told The Real Deal in an exclusive interview that she is apartment hunting in Manhattan today. “With all the things that have happened,” plus a desire to pursue her modeling career, she said, “it’s probably in my best interest to move up here.” She said she plans to move to the Big Apple within the next couple of weeks and has not decided whether or not to give up her home in Las Vegas. Jungers is heading out to see a 750-square-foot, one-bedroom apartment at One Irving Place, also known as Zeckendorf Towers, owned by Elie Hirschfeld, CEO of Hirschfeld Properties. The unit rents for $3,000. The 26-year-old, who has friends in the city, said she plans to live on her own. Jungers said she has been “bombarded” with calls from real estate agents. “My phone has not stopped [ringing],” but she is not working with an agent at this time…. [more]

Elie Hirschfeld’s East Hampton home

Real estate bigwig Elie Hirschfeld, president of New York metro area developer Hirschfeld Properties, has placed his oceanfront East Hampton home on the market for $25 million, according to a news release. The eight-bedroom, seven-and-a-half-bathroom mansion received a total renovation in 2002 and includes four fireplaces, a library, a private beach walkway and a heated pool. The 12,000-sqaure-foot mansion, which sits on 1.2 acres, is being represented by Sotheby’s International Realty’s Bettie Wysor. It was designed and built by John Custis Lawrence in 1920, according to the Sotheby’s listing. Hirschfeld Properties is behind New York’s first open-air garage, the Hotel Pennsylvania, and the Manhattan Mall. TRD… [more]