Alleged fraud stalls Chetrit Group’s Garment District foreclosure

New York /
Sep.September 26, 2011 08:55 AM

Chetrit Group’s Isaac Chetrit was defrauded out of ownership of a mortgage he bought on a Garment District office building, his attorney alleges.

Real Estate Weekly reported that when Isaac Chetrit purchased the distressed mortgage on a 60,000-square-foot office building at 315 West 35th Street for $10.75 million last year, he meant to file the transaction under an LLC called Mazel West 35. Instead, it was incorrectly recorded as Mazal 315 W35 LLC.

Chetrit’s initial attempts to foreclose on the owner, Aaron Chetrik, who planned a condominium conversion, were delayed by the spelling mistake which was eventually corrected. Then, during the foreclosure case, a lawyer claimed that the misspelled entity, Mazal 315 W35, was a legitimate company and the rightful owner of the mortgage.

Chetrit’s lawyer, Stephen Meister, a principal at Meister Seelig & Fein, claims someone printed out the erroneous documents from the city’s online public records, added Yoseph Levin as the owner’s name and resubmitted them to the state — essentially, defrauding Chetrit. Some speculate it was all an effort by the initial owner, Aaron Chetrik, to stall the foreclosure. [REW]


Related Articles

arrow_forward_ios
315 West 35th Street with Isaac Chetrit and DJ Dashti (Google Maps, Linkedin, iStock)
Chetrit to open flex-office location near Penn Station
Chetrit to open flex-office location near Penn Station
261 Madison Avenue and 205 East 42nd Street are among the closed locations. (Sapir, Durst, WeWork)
WeWork dumps several Manhattan locations
WeWork dumps several Manhattan locations
From left:  Joseph Chetrit, 404 Fifth Avenue and WeWork CEO Sandeep Mathrani (Photos via Wikipedia Commons; Google Maps)
WeWork battles Chetrit Group over Midtown lease
WeWork battles Chetrit Group over Midtown lease
Joseph Chetrit and 49 Chambers (Getty, 49 Chambers)
Chetrit lands $90M inventory loans for Tribeca condo conversion
Chetrit lands $90M inventory loans for Tribeca condo conversion
15 West 47th Street, Diamond District (Google Maps, iStock)
Chetrit brings ELO back to the table on $110M Diamond District deal
Chetrit brings ELO back to the table on $110M Diamond District deal
Sharif El-Gamal, Joseph Chetrit and 1384 Broadway (Getty; Google Maps)
Chetrit Group sues Sharif El-Gamal for unpaid rent
Chetrit Group sues Sharif El-Gamal for unpaid rent
2870 Ocean Avenue and Isaac Chetrit, and 936 Home Street (Google Maps) 
Chetrit family’s dev site buy tops weekly mid-market sales
Chetrit family’s dev site buy tops weekly mid-market sales
Chetrit Group principal Michael Chetrit and 850 Third Avenue (850thirdavenue, iStock, Discovery Channel)
Chetrit battles Discovery Channel at 850 3rd Avenue
Chetrit battles Discovery Channel at 850 3rd Avenue
arrow_forward_ios

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

Loading...