SI hotelier files for bankruptcy

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SI Hotel Holding filed for Chapter 11 bankruptcy protection yesterday in an effort to stave off a foreclosure sale on the Staten Island Hotel. The 187-room Graniteville hotel is one of several projects by SI Hotel Holding principal Leib Puretz that are currently in foreclosure, according to the Staten Island Advance. Puretz is reportedly in foreclosure for over $86 million in loans for projects planned for development in the borough. The Staten Island Hotel has approximately 50 to 99 creditors, according to documents filed in federal court, and has liabilities of over $10 million, the Advance reported.

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