Bauhouse’s Chris Jones flees the country following judgment on Sutton Place debt

Court ordered Jones and his partners to pay $24M to creditor Gamma Real Estate

New York /
Aug.August 30, 2017 12:44 PM

Chris Jones, a partner of the Bauhouse Group development company that lost control of an East Side development site last year, has fled the country, after a New York court ordered him and two other principals to pay over $24 million to creditor Gamma Real Estate.

Jones was subpoenaed in May to produce all documents related to his current real estate holdings and other documents demonstrating his current financial position.

But Jones wrote back to the court earlier this month saying that he “no longer reside[d] in the United States” and did not receive the subpoena papers. Furthermore, he couldn’t afford legal representation anyway, he claimed.

Jones, a U.K. citizen, said in a letter to the judge that he is now living in Spain but would like to communicate via email. “Under the circumstances, I hope you will agree that I am not trying to avoid this matter,” Jones wrote.

Bauhouse Group, led by Joseph Beninati, had personally guaranteed high-interest loans from its lender Gamma Real Estate. Gamma took over the development site at 3 Sutton Place following a legal battle with Beninati, who had declared bankruptcy to prevent Gamma from foreclosing on him.

Gamma has since filed plans for an 125-unit project at the Sutton Place site, though there’s a good chance it does not develop the site. Community activists and local politicians have been pushing for a moratorium on all development over 260 feet in the neighborhood.

Correction: A previous version of this article misstated the number of apartments Gamma wants to construct at 3 Sutton Place.


Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)
Real estate stocks push up this week as U.S.-China trade tensions ease
Real estate stocks push up this week as U.S.-China trade tensions ease
416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Gary Barnett with 32 West 48th Street
A “nonsense issue”: Extell Diamond District hotel mired in 18 inch dispute
A “nonsense issue”: Extell Diamond District hotel mired in 18 inch dispute
From left: John Perez, Christian Amato and Nathalia Fernandez in front of Jacobi Hospital in the Bronx (Getty Images, JacobiPeds.org, ChristianAmato.com, John Perez)
Candidates back affordable housing, but not in their back yard
Candidates back affordable housing, but not in their back yard
Arlington Village at 3100-3124 Atlantic Avenue in East New York, Brooklyn (Google Maps, Getty)
Developing in downtrodden areas gets dicey
Developing in downtrodden areas gets dicey
800 East Main Street and AMS Acquisitions' Avi Abadie (Town of Yorktown, LinkedIn)
Luxury senior housing proposed for vacant Westchester office
Luxury senior housing proposed for vacant Westchester office
D&F Development Group’s Peter Florey and the development site at the northwest corner of Pulaski and Elwood Roads in East Northport (D&F Development Group, Google Maps)
Four decades in making, East Northport project clears key hurdle
Four decades in making, East Northport project clears key hurdle
From left: Century Development's Group’s George Xu and City/Rybak Development’s Sergey Rybak with 78-29 Austin St./11-36 45 Road
Rybak, Century file to build Queens multifamily projects
Rybak, Century file to build Queens multifamily projects
arrow_forward_ios

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

Loading...