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]