Rialto sued over alleged self-dealing, “highly improper” servicing

December 23, 2025 / no comments

A dispute between an investor and the special servicer on a loan has spilled out into court.  Special servicer Rialto Capital Advisors is being sued for allegedly trying to keep a borrower unnecessarily in default, a situation that would result in more fees earned by the servicer but would sting other loan certificateholders. The investment firm 400 Capital Management, an investor on the loan, filed the suit in New York on Tuesday.  It’s the latest legal challenge for one of the nation’s largest special servicers by volume. As of June, Rialto was the named special servicer on more than 5,000 […]

This article originally appeared on The Real Deal. Click here to read the full story.

Kingston mayor breaks with council, vetoes rent-control resolution

December 23, 2025 / no comments

Kingston was the first upstate municipality to adopt rent stabilization in New York, but it’s becoming a symbol of how challenges to the designation remain strong. This week, Mayor Steve Noble vetoed a Common Council resolution to maintain rent stabilization in the city, the Times Union reported. The Common Council’s resolution from last week to declare a housing emergency was unanimous, setting up a clash and potential veto override. Data disputes are driving the debacle. A city vacancy study found rates in buildings covered by the Emergency Tenant Protection Act at 7.04 percent this spring, above a 5 percent limit […]

This article originally appeared on The Real Deal. Click here to read the full story.

Ashkenazy Grows Beverly Hills Retail Footprint With Neiman Marcus Buy

December 23, 2025 / no comments

Ben Ashkenazy’s Ashkenazy Acquisition Corp. acquired the Beverly Hills Neiman Marcus site, which spans two city blocks in the prime Golden Triangle section of the city. The price was not disclosed. 
The property at 9700 Wilshire Blvd. is located on the corner of Beverly Hills where Ashkenazy’s property portfolio encompasses the former Barneys building on Wilshire Boulevard, now occupied by Saks Fifth Avenue, and other retail sites. With this transaction, Ashkenazy’s holdings in the Golden Triangle come to 350K SF, the firm said. 
The acquisition makes New York-based Ashkenazy the largest owner of retail space in Beverly Hills, according to a release announcing the transaction. 
The city has seen at least one…