Brooklyn developer files for Ch. 11

New York /
May.May 12, 2009 02:43 PM
Fred Deutsch filed for bankruptcy

Fred Deutsch, the developer of a four-story residential
building at 338-342 22nd Street
in the Greenwood section of Brooklyn,
filed for bankruptcy protection yesterday.

Deutsch, the owner of LD Development and 11 other entities
he controls, filed for bankruptcy protection May 11 in federal court in Manhattan, according to
the filings.

The liabilities
for LD Development were allegedly between $10 million and $50 million while
assets were between $1 million and $10 million.

The Brooklyn project had a stop work order served on April 30, which remains in effect, the city Department of Buildings Web site said.

Deutsch is the founder of Voxonic, a software company at 244 East 62nd Street that can transform a speaker’s voice into hundreds of different languages, according to the company Web site. The Deutsch-controlled entity 244 East LLC, which has owned that building since March 2006 when it purchased it for $4.5 million, also filed for bankruptcy.

Deutsch sold a 30-story building to the developer of the Jasper at 114 East 32nd Street, Harry Jeremias, in May 2006 for $53 million, 43 years after buying the building for an undisclosed price, according to the city Department of Finance records. The building was a former office tower that Jeremias is converting into residential apartments.


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
(iStock)
CoStar Q2 net income down 17%
CoStar Q2 net income down 17%
214 West 109th Street and Isaac Chetrit (Google Maps)
Chetrits to invest $200M in Manhattan apartment portfolio
Chetrits to invest $200M in Manhattan apartment portfolio
Proptech revolution grows as landlords turn to big data to manage properties
Proptech revolution grows as landlords turn to big data to manage properties
Proptech revolution grows as landlords turn to big data to manage properties
The Birch Group CEO Mark Meisner and 700 Alexander Park Drive (LinkedIn)
Birch Group buys Princeton office portfolio from BentallGreenOak
Birch Group buys Princeton office portfolio from BentallGreenOak
PHE at 51 Jay Street and 4 Hunts Lane (Compass)
Dumbo penthouse leads Brooklyn’s luxury market
Dumbo penthouse leads Brooklyn’s luxury market
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...