The Real Deal New York

Category: Raphael Toledano

  • From left: Raphael Toledano, Josh Zegen, Joseph Sutton and a map of the East Village

    Madison Realty Capital has moved to foreclose on one of Raphael Toledano’s major East Village portfolios, sources told The Real Deal, less than 18 months after Toledano pulled off the audacious and heavily leveraged acquisition.

    Just three days before Madison filed to foreclose on the buildings, sources said Joseph Sutton, son of retail mogul Jeff Sutton, signed a hard contract to buy the buildings from Toledano for about $145 million. [more]

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  • From left: Raphael Toledano, 125 West 16th Street and Josh Zegen

    Madison Realty Capital is moving to foreclose on Raphael Toledano’s six-story Chelsea rental building at 125 West 16th Street, believed to be the single-most valuable property in his holdings. [more]

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  • Clockwise from top left: The founders of VTS and Hightower, the retail space at 650 Fifth Avenue, and Raphael Toledano (Photo by Michael McWeeney)

    Clockwise from top left: The founders of VTS and Hightower, the retail space at 650 Fifth Avenue, and Raphael Toledano (credit: Michael McWeeney)

    In many Eastern societies, the arranged marriage is still a thing. A bride and groom are stacked up on paper, and if enough boxes — family wealth, background, education, status — line up, a match is struck. [more]

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  • From left: Raphael Toledano, 253 East 10th Street and 27 St. Mark's Place in the East Village

    From left: Raphael Toledano, 253 East 10th Street and 27 St. Mark’s Place in the East Village

    Raphael Toledano is looking to unload 13 of his buildings in the East Village, sources told The Real Deal.

    Rosewood Realty Group’s Aaron Jungreis, Toledano’s uncle, has been shopping the properties, which comprise a combined 206 apartments and 12 retail spaces. Toledano wants $160 million for the portfolio, a number sources said was ambitious. [more]

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  • 218 East 27th Street, Raphael Toledano (credit: Michael McWeeney), and 58 St. Mark's Place

    From left: 218-220 East 27th Street in Kips Bay, Raphael Toledano (credit: Michael McWeeney), and 58 St. Mark’s Place in the East Village

    Raphael Toledano’s Brookhill Properties is in contract to sell four East Side walk-up rental buildings in two separate deals for a combined $35.6 million, sources told The Real Deal. [more]

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  • Residents protest on 5th Street, 325 East 12th Street, Raphael Toledano and residents and passerby in line to get free ice cream

    From left: Residents protesting on 5th Street, sad ice cream cone who just wants to be loved, 325 East 12th Street, Raphael Toledano and residents and passerby in line to get free ice cream

    UPDATED, August 5, 3:27 p.m.: Ice cream, it turns out, doesn’t heal all wounds.

    Just ask the tenants of 325 East 12th Street, who gathered on Thursday to protest an ice cream social held by their landlord, Raphael Toledano’s Brookhill Properties. Ice cream may seem like an innocuous olive branch, but for these tenants it dripped with disrespect. According to tenants, they’ve gone without gas service in the building since May 18, and free ice cream is not exactly the remedy they were expecting. [more]

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  • Toledano EV

    From left: Raphael Toledano (credit: Michael McWeeney), 27 St. Mark’s Place and 66 East 7th Street in the East Village

    Raphael Toledano’s Brookhill Properties is looking to sell six multifamily buildings in the East Village-centric portfolio, less than a year after buying them, The Real Deal has learned. [more]

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  • Alteration intensity data table

    Source: TRD analysis of DOB data and other public records for the East Village since 2012

    Some multifamily landlords buy and hold, gradually stacking up income from their properties, making repairs as problems arise — or never at all. Others – whether they aim to upgrade their buildings, divide or combine units or, sometimes, for different reasons – are more active.

    The Real Deal dug through alteration filings with the city’s Department of Buildings, seeking to determine which landlords filed the most permit applications relative to the number of units they own in the East Village. [more]

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  • Raphael Toledano (Photo by Michael McWeeney)

    Raphael Toledano (Photo by Michael McWeeney)

    From the June issue: Raphael Toledano has difficulty staying still. On a recent afternoon, the stubble-faced real estate wunderkind sat in his office, dressed in a black suit and leather slip-on shoes that he said he designed himself. He alternated between puffing on cigarettes — both tobacco and electronic — eating fresh mango slices and popping pills for a headache.

    Before commencing the interview, Toledano, a Sephardic Jew who prays three times a day, wondered aloud about the ethics of journalists. “Do you believe in God? Yes or no?” he asked this reporter. Once at ease, the 26-year-old investor proceeded to launch into a mile-a-minute monologue about his achievements that often included frat-tastic boasts about his wealth.

    “I’m worth a fuckload of money, bro,” he said. [more]

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  • Toledano 444

    444 East 13th Street and Raphael Toledano

    Raphael Toledano agreed to pay north of $1 million to settle claims that he harassed tenants at one of his East Village buildings, sources told The Real Deal.

    The settlement between Toledano, a broker-turned-multifamily investor who runs Brookhill Properties, and several rent-stabilized tenants at the six-story, 16-unit walk-up at 444 East 13th Street was finalized May 6, court records show. [more]

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  •  Raphael Toledano, 327 East 12th Street, 66 East 7th Street and Larry Gluck

    From left: Raphael Toledano, 327 East 12th Street, 66 East 7th Street and Larry Gluck

    An affiliate of Larry Gluck’s Stellar Management is suing Raphael Toledano, claiming the investor accepted a $130 million mortgage to finance the acquisition of his East Village portfolio, but then backed out of the deal and refused to pay the $1.9 million break-up fee. [more]

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  • Raphael Toledano may have ties to Truman & Wildes, a bogus real estate law firm

    Raphael Toledano may have ties to Truman & Wildes, a bogus real estate law firm

    TRD Special Report: In the summer of 2014, a New York landlord with a modest portfolio received a letter from a certain Raphael Toledano, Esq. In the letter, Toledano allegedly identified himself as belonging to Truman & Wildes LLP, a Park Avenue law firm. He claimed to be representing real estate investor Josh Zegen in a 1031 exchange, and assured the landlord that his client was interested in one of his buildings and would “pay above market value” for it.

    The issue, however, is that Truman & Wildes LLP is bogus. It is not a licensed law firm in the tri-state area, and isn’t even a registered entity in Delaware, Connecticut, New Jersey or New York. Its website, which was taken down shortly after The Real Deal began making inquiries, appears to be a basic web template with language lifted verbatim from legitimate law firms. Misrepresenting oneself as a lawyer is illegal.

    For his part, Toledano, a former broker and now a prominent local real estate investor, denies any connection with the law firm. But property records and interviews with his former employees, business associates and industry players indicate otherwise. [more]

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  • Raphael Toledano

    From left: Raphael Toledano and 91 Fifth Avenue in the Flatiron District

    Landlord HRC Corporation is accusing broker-turned-investor Raphael Toledano of failing to pay rent at his Flatiron District office.

    HRC filed suit Wednesday, asking a State Supreme Court judge to award it a total of $6.4 million, the amount allegedly due over the entire 10-year lease, plus damages.

    According to the suit, Toledano’s Brookhill Properties signed a lease for 8,000 square feet, the entire sixth floor, at 91 Fifth Avenue back in June. [more]

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  • Toledano 444 East 13th

    From left: Raphael Toledano and 444 East 13th Street

    Landlords have been known to collect documentary evidence against tenants during bitter disputes in housing court. Turns out, two (or more) can play at that game.

    Rent-stabilized tenants of Raphael Toledano’s 444 East 13th Street in the East Village submitted audio and video recordings to housing court depicting the landlord’s agents as engaging in a campaign of harassment to force them out. [more]

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  • From left: 253 East 10th Street, 27 St. Mark’s Place and Raphael Toledano

    From left: 253 East 10th Street, 27 St. Mark’s Place and Raphael Toledano

    Raphael Toledano is funding his recent acquisition of a 16-building East Village portfolio with a $124 million loan from Midtown-based Madison Realty Capital.

    Toledano’s Brookhill Properties closed on the financing Sept. 10 and will use the proceeds to fund its $97 million acquisition of the East Village portfolio, as well as future renovations on the multifamily and mixed-use properties. [more]

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  • Jungreis-Suit

    From left: Aaron Jungreis, Raphael Toledano, 253 East 10th Street, 27 St. Mark’s Place and 66 East 7th Street

    Is the multifamily feud over? On the eve of closing on a $97 million portfolio deal he had allegedly cut Aaron Jungreis out of, Raphael Toledano reached a settlement with the Rosewood Realty Group chief, who happens to be his uncle, according to court documents filed Thursday. [more]

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  • From left: Raphael Toledano,

    From left: Raphael Toledano, 253 East 10th Street and 27 St. Mark’s Place in the East Village

    The intra-family lawsuit hanging over Raphael Toledano’s head did nothing to slow the investor’s drive to close on the hefty East Village multifamily portfolio at the center of the dispute.

    Toledano’s Brookhill Properties completed the purchase of 16 buildings from the Tabak family, paying $97 million. [more]

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  • Jungreis Suit

    From left: Aaron Jungreis, Raphael Toledano, 253 East 10th Street, 27 St. Mark’s Place and 66 East 7th Street

    UPDATED, 10:57 p.m., August 27: Say uncle!

    Rosewood Realty Group’s Aaron Jungreis, one of the city’s elite multifamily brokers, is suing his nephew Raphael Toledano, claiming he was squeezed out of a $100 million deal to acquire 16 East Village rental buildings. [more]

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