As Ben Ashkenazy and the Gindis work toward resolving their protracted feud, one of the properties at the center of it is headed toward foreclosure.
Valley National Bank moved Thursday to foreclose on the seven-story retail and office building at 2067 Broadway owned by the feuding partners, court records show.
The bank holds an $11.6 million mortgage on the Upper West Side property near West 72nd Street and claims the owners have failed to make payments since June. The outstanding balance is $10.7 million.
Representatives for the bank, Ashkenazy and the Gindis did not immediately respond to requests for comment.
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The partners acquired the building in 2014 for $20 million. It was one of a handful of properties the prominent retail investors partnered on over the years.
But in 2020 Ashkenazy sued the Gindis, claiming they failed to meet capital calls at 2067 Broadway and six other properties. He alleged they were starving the investments of capital and trying to strong-arm him into buying their stakes.
Ashkenazy’s attorney last week notified the judge in the case that the two sides had agreed in principle on a mediator and plan to update the court later this month.
Ashkenazy has tussled with lenders, partners and rivals over a number of issues recently. In a recent profile, The Real Deal wrote that his “résumé as a go-getting billionaire is underscored by a reputation for playing rough to get what he wants.”