When you think of rent-stabilized bankruptcies, you probably think of overleveraged buildings in Upper Manhattan and the South Bronx — not conservatively financed ones in white-ethnic Brooklyn neighborhoods. Think again. Consider the bankruptcy that Samuel Hertz filed in late January for 420 Avenue F and 320 Ocean Parkway in Kensington and 2302 85th Street in Bensonhurst, which have 145 apartments in all. Their tenants have names like Melnikova, Akramov, Durglishvili and Ananin. Hertz bought the three buildings in January 2018 for $46 million with a $25 million loan from ConnectOne Bank. That’s a loan-to-value ratio of only 54 percent. It […]

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