Ashkenazy gives up claim to Surrey Hotel, but wants the furniture

Bankruptcy trustee terminated lease on Upper East Side property

New York /
Aug.August 18, 2020 11:45 AM
Ashkenazy Acquisition CEO Ben Ashkenazy and the Surrey Hotel at 20 East 76th Street (Google Maps; iStock; Pixabay)

Ashkenazy Acquisition CEO Ben Ashkenazy and the Surrey Hotel at 20 East 76th Street (Google Maps; iStock; Pixabay)

Ben Ashkenazy is giving up his claim to the bankrupt Surrey Hotel, but he’s holding onto the furniture.

The Chapter 7 bankruptcy trustee for the Upper East Side hotel terminated Ashkenazy’s ground lease on the property, according to a recent court filing.

Ashkenazy didn’t oppose the move, but the investor did assert his claims to the hotel’s furniture, which includes a chandelier, a piano, two refrigerators, two microwaves and 209 beds.

A representative for Ashkenazy did not immediately respond to a request for comment.

The investor’s company, Ashkenazy Acquisitions, pushed the 109-room hotel at 20 East 67th Street into bankruptcy in April after the hotel’s owner, Denihan Hospitality Group, missed its ground lease payment.

Ashkenazy had picked up the $45 million leasehold mortgage on the property in 2018, and it was an unusual move for the lender to file for involuntary bankruptcy. Generally, the borrower does that.

But Ashkenazy took the step as the courts were shut down by the pandemic. Chapter 7 results in liquidation of the bankrupt entity.

Contact Rich Bockmann at [email protected] or 908-415-5229


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