Rabbi nabs 509 Fifth for $40M

New York /
Apr.April 11, 2012 11:30 AM

Sources told the New York Post that Rabbi Joshua Metzger is in contract to purchase 509 Fifth Avenue for $40 million, potentially bringing an end to the many lawsuits pending at the tower between 42nd and 43rd streets. The 12-story, 60,000-square-foot building is partially occupied by non-profits the Chai Foundation and Chabad Lubavitch of Midtown, both run by Metzger.

Metzger has field suit in the New York State Supreme Court against real estate investors David Werner and Amram Kass as well as Norman Sturner of Murray Hill Properties, who currently owns the building, alleging that he provided proprietary information about the building to Werner and Kass prior to its sale by Joseph Moinian to Sturner in 2010.

The building hit the market late last week, marketed by Eastern Consolidated’s Peter Hauspurg and Brian Ezratty, and the rabbi put down a deposit almost immediately, the Post said. Before the sale, Sturner had planned to sell off the floors of the building as commercial condominiums. [Post]


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
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
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
Hackensack mayor John Labrosse, 436 Main Street (Loopnet, Getty, City of Hackensack)
Hackensack Sears redevelopment is back on
Hackensack Sears redevelopment is back on
“If they want to try to suck our blood, make my day:” John Cats takes on venerable store
“If they want to try to suck our blood, make my day:” John Cats takes on venerable store
“If they want to try to suck our blood, make my day:” John Cats takes on venerable store
Starwood's Barry Sternlicht
Starwood wheels and deals to fix $800M loan default
Starwood wheels and deals to fix $800M loan default
Seth Weissman, Financing
Urban Standard wants to rescue property owners from high interest rates
Urban Standard wants to rescue property owners from high interest rates
Tishman Speyer’s Rob Speyer and Latch’s former CEO Luke Schoenfelder
Latch reveals more financial statements to be unreliable
Latch reveals more financial statements to be unreliable
arrow_forward_ios

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

Loading...