Sapir Corp has placed its Nomo Soho hotel into Chapter 11, the latest development in the ongoing collapse and liquidation of Alex Sapir’s Israeli-backed real estate company. Alex Sapir’s firm filed a petition Tuesday in bankruptcy court in Manhattan, seeking to run a court-supervised auction for the 26-story boutique hotel at 9 Crosby Street. The move is designed to cement a sale and pay down Sapir Corp’s $155 million in bond debt across two Israeli bond series. The filing comes three weeks after Sapir Corp entered insolvency proceedings in Israel, where the company told the Tel Aviv-Jaffa District Court that […]

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