Do Kwon, who designed the virtual currencies Luna and TerraUSD, which plunged in 2022, had pleaded guilty to fraud.
City Council members have several housing-related bills on their desks, including a new version of the Community Opportunity to Purchase Act, or COPA, and measures that some groups estimate will drive up the cost of city-funded housing by millions of dollars. Council members worked to finalize these bills on Wednesday to ensure they could be voted on at their final meeting of the year — and under the Adams administration — next week. Bills must age seven days (not including Sundays) before they can be called to a vote. Aging doesn’t guarantee a bill will be placed on the next […]
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The S&P 500 edged higher as investors shrugged off concerns over Oracle’s earnings. It was just enough.
Jonathan Landau announced some fresh funding for his ambitious plans in Brooklyn Heights. Landau Properties, in a partnership with the Mizrachi family’s Third Millennium Group and Midtown Equities, closed on the purchase of 205 Montague Street, the firms announced in a press release. The deal was financed with $113 million in senior secured debt from Northwind Group and $100 million in equity, including $25 million in preferred equity from Atlas Capital Group. The financing covers the acquisition and predevelopment phase of the project, according to the release. The closing comes almost two years after Landau, the former CEO of Fortis […]
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Despite efforts to stop the sale, Meyer Chetrit’s ownership interests in four property-holding companies have been sold at auction to pay off a lender. The buyers were Meyer’s brother, Juda Chetrit, and an entity associated with lender Maverick Real Estate Partners. The sale, held on Tuesday, was the latest episode in the legal saga between Meyer Chetrit and Maverick Real Estate Partners, which is trying to collect on a $132 million judgment from the prominent developer connected to a now-foreclosed Manhattan hotel property. Chetrit served as a guarantor on the loan. Now that he hasn’t paid a judgment ordered in […]
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Veris Residential is parting with another portion of the Harborside complex on the Jersey City waterfront, handing the keys of a massive development project to Panepinto Properties. Panepinto acquired Harborside 8 and 9 at 3 Second Street and 242 Hudson Street from Veris for $75 million, NJ.com reported. The four-acre development site already holds full approval for a large-scale residential and retail complex on the Hudson River. At Harborside 8, Panepinto will build a 65-story, 678-unit apartment building with 8,500 square feet of retail space, a 350-space parking garage and a redesigned public park. At Harborside 9, meanwhile, site plan […]
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Indicted attorney Mark Nussbaum revealed the list of all his creditors and debtors, providing more clues of where the missing money from his firm’s escrow accounts went. The lion’s share of missing cash appears to stem from funds transferred to the late real estate investor Mendel Steiner, who Nussbaum claims owes over $306 million. Other notable names are: Shaya Prager, Eli Puretz, Boruch Drillman and Yanky Tauber. The new filings provide a window into what went wrong for the once high-flying lawyer, whose law firm has about $400 million in unpaid creditors. Nussbaum provided the list of all the people […]
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Carl Erik Rinsch secured funding from the streaming company for a science-fiction series, “Conquest,” that was never completed.
The Treasury Secretary unveiled changes to the Financial Stability Oversight Council to ease “overregulation.”
A master of leveraged buyouts, he bought baseball and hockey teams in Texas and an English soccer club, only to lose them in an avalanche of debt.