Chetrit sues Solil to keep ground lease at 500 Seventh Avenue

Developer claims it is addressing violations

New York /
Mar.March 30, 2015 02:25 PM

Joseph Chetrit’s Chetrit Group filed suit against Solil Management last week, asking for more time to address its concerns before being booted off of a ground lease at 500 Seventh Avenue.

Solil Management, which manages the real estate holdings of the late Sol Goldman, is the owner of the land under Chetrit’s 500 Seventh Avenue, 512 Seventh Avenue and 228 West 38th Street. Chetrit operates three buildings at those addresses, totaling 1.6 million square feet, according to the New York Daily News.

Solil apparently gave Chetrit until March 31 to address lease violations including non-payment of contractors and Department of Building infractions issued over elevator inspections and work on the building’s facade. In its suit, Chetrit seeks a temporary restraining order against Solil’s eviction efforts, and explains that it is in the process of addressing the concerns, but needs more time.

500 Seventh Avenue is home to Touro College, which occupies 57,000 square feet and is in talks to expand to roughly 300,000 square feet, as The Real Deal reported. [NYDN] — Tess Hofmann


Related Articles

arrow_forward_ios
(Getty, Winick)
Chetrit Group sells 1231 Third Avenue
Chetrit Group sells 1231 Third Avenue
The Chetrit Organization’s Michael Chetrit, Harbor Group International CEO Jordan Slone and 850 Third Avenue (Harbor Group, 850thirdavenue)
Chetrit Org’s 850 Third Avenue heads to foreclosure auction
Chetrit Org’s 850 Third Avenue heads to foreclosure auction
Joseph Chetrit with the Tides Hotel  (Getty, Tides via Facebook)
Chetrit’s lender alleges it stole $2M insurance payout for South Beach hotel damage
Chetrit’s lender alleges it stole $2M insurance payout for South Beach hotel damage
(Moinian Group, CVS)
CVS signs lease for 512 7th Avenue store
CVS signs lease for 512 7th Avenue store
Joseph Chetrit with 427 and 459 (left) Broadway (Getty, Beyond My Ken/Wikimedia)
Chetrit Group falls behind on Soho portfolio mortgage
Chetrit Group falls behind on Soho portfolio mortgage
Joseph Chetrit, Jordan Slone (Getty, NADLAN)
Harbor buys nearly 5,500-unit portfolio from Chetrit for $390M
Harbor buys nearly 5,500-unit portfolio from Chetrit for $390M
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
The building is near Herald Square and Penn Station. (Google Maps)
NYC sues Garment District landlord over tenant’s alleged prostitution activity
NYC sues Garment District landlord over tenant’s alleged prostitution activity
arrow_forward_ios

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

Loading...