Eli Karp is suing the lender and appraiser of his foreclosed Hello Lenox apartment building, alleging they intentionally overvalued the Brooklyn property. Karp is accusing a Greystone affiliate and real estate valuation firm BBG of engineering a “loan-to-own” scheme that he says cost him his flagship property, per a lawsuit filed Monday in New York State Supreme Court. Karp alleges that Greystone, led by founder and CEO Stephen Rosenberg, conspired with BBG to dramatically inflate the value of his newly-built apartment complex at 271 Lenox Road in East Flatbush, per the suit The inflated valuation, the suit claims, was used […]

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