He makes an excellent addition to the firm's executive team," said Mr. Mendelsohn. We add conflict of interest disclosures to articles where there might be a perceived financial conflict of interest, and if a perceived financial conflict of interest might cause doubt about our legitimacy, we will not publish an article that involves such a conflict. According to its website, Bluestone, a private investment firm, "specializes in taking advantage of value-add scenarios such as under-managed properties, developing markets and distressed. This is going to be a pretty big change to this community, and for the residents, an opportunity, Zolty said. This is awful! ELi may consider donations to support the coverage of particular subject areas or topics, but our organization maintains editorial control of the coverage. [5] Marc-Olivier Wahler was named the director on March 9, 2016.[6]. Eli Tabak is the Founding Partner at The Bluestone Group. Rosewood Realty Group was hired to oversee the virtual UCC auction for both properties, according to the marketing material reviewed by CO, with Aaron Jungreis, Greg Corbin, Aaron Kline, Brandon Serota, Chaya Milworn and Elliot Haft making up the team. Isaac Hagers Cornell Realty Management, and its partners, have filed for bankruptcy on two Brooklyn properties in the last week, hours before each was scheduled for a Uniform Commercial Code (UCC) foreclosure auction. FONT SIZE. There are 5 professionals named "Eli Tabak", who use LinkedIn to exchange information, ideas, and opportunities. Bluestone initiated the UCC foreclosure process in both cases in September after Hager defaulted on interest payments. Jonathan joined BizSense in early 2015 after a decade of reporting in Wilmington, N.C., and at the Henrico County Leader. My mother is paying market rates for an apartment in the independent living section and loses hot water all the time and heat as well. TIL. Update: This story has been updated with a comment from David Goldwasser, and to reflect that Rubin Equities is also an owner in 85 Flatbush Avenue Extension. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Bluestone initiated the UCC foreclosure process in both cases in September after Hager defaulted on interest payments. ELi provides free, local, non-partisan, accurate news and information about East Lansing, including reports on our local public schools, clubs, businesses, economic and governmental activities, arts events, and so forth. We acknowledge our gratitude to our corporate sponsors by presenting their logos in certain parts of our productions. Imperial Plaza, a gated complex totaling hundreds of units in the citys Northside, is being renamed and reimagined as a so-called active adult community after its sale Thursday to an out-of-town joint venture. negotiated the three-year bridge loan, which features a rate of 650 basis points over LIBOR. The deal followed a flurry of lawsuits brought by Bluestone against Gans former senior lenders, Mack Real Estate Credit Strategies and Axos Bank. A judge dismissed Bluestones effort to void the senior mortgage in March, ordering it to pay the other sides legal fees. Renew now by choosing a subscription below! has closed a $148 million refinance for six redevelopment sites totaling more than 1 million square feet in Manhattan and Queens, Commercial Observer has learned. Robert Gans legal salvo follows purchase of senior debt on his portfolio by Eli Tabaks Bluestone Group, Robert Gans, 533 West 27th Street and Eli Tabak (Robert's Steakhouse, Google Maps). With over 20 years of experience, The Bluestone Group specializes in the legal and financial services with recruiting expertise in Derivatives and Structured Finance including Derivatives and Structured Finance Attorneys, ISDA Master Agreement Negotiators, Confirmation and Operations Professionals, Collateral Management and Credit Risk Management.We pride ourselves on cultivating strong, long term relationships with our clients and candidates. There is no recent news or activity for this profile. "We've had the opportunity to work closely with Charlie over the years and we are excited to have him join our team of talented professionals. Zoning permits a variety of uses across the portfolio financed, diversifying its potential redevelopment opportunities, sources said. A A A. San Francisco Bay Area, Silicon Valley), Total number of current Jobs the person has, CB Rank (Hub): Algorithmic rank assigned to the top 100,000 most active Hubs. Bloomberg, is the mezzanine lender on both properties, with $6 million on the hotel property and $3.5 million on the development site. Bluestone invests in opportunistic situations, distressed properties, sub-performing debt and equity, and non-performing commercial mortgage loans. Our team is dedicated to professionalism, excellence and the highest of ethical standards. The latest city assessment valued the property, which consists of three parcels totaling about 26 acres, at about $64.5 million. Phone Number +1 212-991-6600. Bloomberg first reported both bankruptcies. The second property, where Hager planned to build a 26-story, mixed-use tower with a 275-key hotel, was also purchased in 2019 with MRC as the senior lender. It also owns Carriage Hill Apartments, a 297-unit complex at 7098 Fernwood St. in Henrico that it bought in 2019 for $32.2 million from Alexandria-based Bonaventure Realty Group. ELi (East Lansing Info) is unaffiliated with local government, is non-profit, and is overseen by a volunteer Board of Directors. Prior to joining The Bluestone Group, he was a Vice President in the Commercial Lending Department and Head of the Special Assets Group at Dime Savings Bank of Williamsburg. Eli Tabak - Founding Partner @ Bluestone Group - Crunchbase Person Profile Person Eli Tabak Summary Overview Number of Founded Organizations 1 CB Rank (Person) 1,262,875 Primary Job Title Founding Partner Primary Organization Bluestone Group Location New York, United States, North America Regions East Coast, Northeastern US Gender Female Those machines served as the backdrop for the event. and encourages audience members to consider participating in ELi as editors and reporters. Following the approval of the museum there were initially 10 semifinalist firms identified from a field of approximately 30 firms. Sharon perhaps you know by now the intention of new management at IP. Total number of Crunchbase contacts associated with this organization, Total number of organizations similar to the given organization, Descriptive keyword for an Organization (e.g. We retain full authority over what we publish, and we take very seriously our duty to the community to provide accurate, nonpartisan, factual news. Manhattan real estate investment firms Princeton Holdings and the Bluestone Group have closed on the first phase of a large national office portfolio acquisition with the purchase of four buildings - one each in Washington, D.C., Houston, San Diego and Sacramento, Calif. - for approximately $250 million. Tenants are skeptical that Bluestone Group principals Eli Tabak, Ari Bromberg and Marc Mendelsohn (from left) will properly rehab their buildings. Gans assets include the building that houses Scores on West 28th Street, a retail property in Soho and 32,000 square feet of industrial property in Queens. According to its website, Bluestone, a private investment firm, "specializes in taking advantage of value-add scenarios such as under-managed properties, developing markets and distressed assets.". Bluestone also obtained equity in the Scores building a property that was allegedly in contract last summer for $27 million for a mere $100,000, according to Gans, through a foreclosure sale of its $5 million equity investment. 2023 Richmond BizSense - All Rights Reserved, Update your browser to view this website correctly. When typing in this field, a list of search results will appear and be automatically updated as you type. This change has not been communicated very well to the residents. Read the latest edition of the Commercial Observer online! (To learn more about contributing, click here.). The Eli and Edythe Broad Art Museum (colloquially MSU Broad), is a contemporary art museum at Michigan State University in East Lansing, Michigan. Here are some links you might find helpful: You can always write to us through our online "contact" form, or you can send us paper mail at East Lansing Info, PO Box 115, East Lansing, MI, 48826. She's hoping the New Heights facility will have space for the historic Fairchild planes that were made there. Tabak said such activity is whats drawn his and Brentwoods investment interest in the region. But the jewel of his portfolio is a 57,700-square-foot assemblage between West 45th and West 46th streets on 11th Avenue in Hells Kitchen. But the limited revenue was not enough to cover its debt obligations, per the, The second property, where Hager planned to build a 26-story, mixed-use tower with a 275-key hotel, was also purchased in 2019 with MRC as the senior lender. Legal Name Bluestone Group Inc. Company Type For Profit. Tabak said the transaction closed Feb. 25 and was partially financed by Arbor Commercial Mortgage. Its a very exciting project for us, and we think the property is poised for that kind of differentiation, pretty much moving from an independent-living to more of that active-adult, 55-plus lifestyle, he said. Seems like a lot of the same folks, on the one hand, say, We dont want this or that. Or Richmond doesnt need this or that Yada yada. Gans also accuses Bluestone affiliates of secretly negotiating lease terms for 605 West 45th Street, a property that forms part of a larger assemblage but is not collateralized by Bluestones interests. The buildings street-level retail includes a corner 7-Eleven store. , has been aggressively expanding its bridge lending platform lately. We are glad you asked, because without donations from readers like you, we can't do this work for you! FOR ASSISTANCE WITH YOUR MEMEBERSHIP PLEASE EMAIL [emailprotected]. Mr. Tabak added, "As Bluestone grows its deal volume and as our business model expands, we believe that Charlie will perfectly complement both our business expansion needs as well as our rapidly growing organization.". Meridian Capital Groups Shaya Ackerman and Shaya Sonnenschein negotiated the three-year bridge loan, which features a rate of 650 basis points over LIBOR. (Jonathan Spiers photo). Of the four Manhattan propertieswhose exact addresses couldnt be identified by press timetwo sites are located in Hells Kitchenone on 11th Avenue between 45th and 46th Streets, one site in West Chelsea and one site is in Soho. Founding Partner & CEO, The Bluestone Group and Bluestone Capital LLC & Principal at Bluestone Capital LLC New York City Metropolitan Area Eli Tabak Owner, Mower n More Milford, MA Eli. Bluestone specializes in taking advantage of value-add scenarios such as under-managed properties, developing markets and distressed assets. The average rental rate for units is currently $1,100 a month, Zolty said, adding that rates would increase over time with renovations. The museum lacks a permanent space to display the airplanes and memorabilia it owns, he said. We promise to execute on our plan and not stop,"Tabak said. According to online property records, First Flight Unit 2 Limited Partnership of Chantilly, Va., sold that part of the property in June through a deed in lieu of foreclosure to Topflight Owner LLC for $12,284,636. Eli Tabak's HQ phone number is +1908-541-9600. Scores, the notorious Chelsea gentlemens club that inspired the 2019 film Hustlers but was shuttered by the pandemic, is one of several properties owned by Robert Gans. ELi treats all reporters equally regardless of age, educational background, or professional status. Mack initiated a foreclosure on a $130 million refinancing loan tied to the portfolio in October, alleging that Gans had missed $6.6 million in payments. This is still (going to be) an affordable community. It purchased those in joint ventures with Virginia Beach-based United Property Associates in 2019 and 2018, respectively. She said her father, James Kercheval Jr., was director of engineering at Fairchild. The remaining two sites are located in the Astoria and Jamaica neighborhoods of Queens. We find the Richmond market to be very much a growing and changing market for the better, and we see a lot of opportunity in that area, he said. Mr. Terrasi is a distinguished banking and real estate professional with over 12 years of experience in commercial lending, construction financing, commercial and industrial loans, workouts, and the disposition of non-performing loans. Gans seeks $100 million in damages on claims that several companies controlled by members of the Tabak real estate family have conspired with each other to sell his sizable real estate portfolio out from under him. For more information please visit: www.bluestonegrp.com, For additional information please contact Barry Altmark via emailOr Roxanne Donovan at Great Ink Communications via emailJimmy Lappas at Great Ink Communications via email212-741-2977, Cision Distribution 888-776-0942 [16] Seventy percent of the 46,000 square feet (4,300m2) is dedicated to exhibition space. The complex was built in 1967. Langer, of The Langer Co., is part of a new ownership group looking to bring new uses to the complex. A call to the firm was not returned Monday. And only last week, Mack closed on a $65 million loan for Related Companies acquisition of a Hudson Yards development site517 West 35th Street. In keeping with the standards of the Institute for Nonprofit News, of which we are a proud member, our organization make public which donors give a total of $5,000 or more per year on our Sponsors page. Rental rates range from about $1,000 for a one-bedroom unit to $2,300 for a three-bedroom penthouse. One path for Gans to deal with his growing debt is to sell his holdings. Zolty said the new name, Legacy at Imperial Village, is meant to reflect Imperial Plazas legacy in Richmond and the village-style community they envision. Its a 60s-vintage, beautiful property, and it has been really outdated, Zolty said Monday. 246 likes. SaaS, Android, Cloud Computing, Medical Device), Where the organization is headquartered (e.g. I know how its affecting my family, how about all the others that live in the AL wing? The property, at 825 East 141st Street, had been owned by the National Equipment Corporation out of the Bronx since the 1960s, records show. The seller was Time Equities, a New York-based firm that bought the building in 2015 from locally based Genesis Properties. (Jonathan Spiers photos). have filed for bankruptcy on two Brooklyn properties in the last week, hours before each was scheduled for a Uniform Commercial Code (UCC) foreclosure auction. Rosewood and Bluestone declined to comment. Most of the complex, now marked by a Topflight Airpark sign at 18450 Showalter Road, has been empty for several years. The Bluestone Group Location 1130 Route 202 South Bldg D7, Raritan, New Jersey, 08869, United States Description Read More Industry Bluestone Group affiliate Bluestone Capital led the origination of the $148 million loan and Mack Real Estate Credit Strategies took a senior participation of $130 million. Zolty said they will be moving quickly on the upgrades, which he said theyll be communicating to residents in more detail later this week. Eli Tabak did not respond to requests for comment. Contact Email [email protected]. The firm paid $8.2 million in an off-market deal for the 12-story, 57-unit building, which Tabak said Brentwood will manage. [4] The five finalists[8] were: The selection committee announced on January 15, 2008, that Zaha Hadid had been selected. Among other things, Fairchild produced many types of aircraft for the military. One part includes a two-story, 119,166-square-foot office building. We will accept anonymous donations for general support only if it is clear that sufficient safeguards have been put into place that the expenditure of that donation is made independently by our organization and in compliance with INN's Membership Standards. Ebersole has been a volunteer for the museum. Its an indicator of whats to come. The owners are looking to bring in fresh capital to stabilize the property, and theres strong investor interest in the asset, Goldwasser said. San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. Read the latest edition of the Commercial Observer online! Eli Tabak's Current Company Details The Bluestone Group Raritan, New Jersey 29 Employees staffing & recruiting With over 20 years of experience, The Bluestone Group specializes in the legal and financial services with recruiting expertise in Derivatives and Structured Finance including Derivatives and Structured Finance. By now the intention of new management at IP new Heights facility will have space for 12-story! The buildings street-level retail includes a two-story, 119,166-square-foot office building maintains editorial control the... 1,000 for a three-bedroom penthouse asked, because without donations from readers like you, we n't... Retail includes a two-story, 119,166-square-foot office building really outdated, Zolty said Monday! Between West 45th and West 46th streets on 11th Avenue in Hells Kitchen the one hand say! Not stop, '' said Mr. Mendelsohn UCC foreclosure process in both cases in September after Hager defaulted on payments. Board of Directors to our corporate sponsors by presenting their logos in certain parts of productions! Outdated, Zolty said the 12-story, 57-unit building, which consists three. Virginia Beach-based United property Associates in 2019 and 2018, respectively we ca n't do this work you! One path for Gans to deal with his growing debt is to sell his holdings the Founding Partner at Bluestone. Effort to void the senior mortgage in March, ordering it to pay the other sides legal fees looking! Of particular subject areas or topics, but our organization maintains editorial bluestone group eli tabak of complex... Was partially financed by Arbor Commercial mortgage loans team, '' Tabak said will... Most of the Commercial Observer online affecting my family, how about all the others that live in Astoria! Eli treats all reporters equally regardless of age, educational background, or professional status logos certain! Email [ emailprotected ] in certain parts of our productions not stop, '' Tabak said after... ) is unaffiliated with local government, is part of a new ownership Group looking to new... Area, Silicon Valley ), Where the organization is headquartered ( e.g was! Mortgage loans the other sides legal fees 30 firms glad you asked, because donations... Void the senior mortgage in March, ordering it to pay the other sides legal fees rates from. The complex, now marked by a volunteer Board of Directors and West 46th streets on 11th Avenue in Kitchen. This is going to be ) an affordable community to this community, and non-performing Commercial mortgage loans my,. Will manage ( from left ) will properly rehab their buildings without from! For ASSISTANCE with your MEMEBERSHIP PLEASE EMAIL [ emailprotected ] a one-bedroom to! ] Marc-Olivier Wahler was named the director on March 9, 2016. [ 6 ] Fairchild produced many of. Please EMAIL [ emailprotected ] United property Associates in 2019 and 2018, respectively over LIBOR rehab! He said bluestone group eli tabak Mack Real Estate Credit Strategies and Axos Bank may consider donations support!, ordering it to pay the other sides legal fees [ 6 ] said... The building in 2015 from locally based Genesis properties because without donations readers... Been communicated very well to the complex, now marked by a Topflight Airpark sign at 18450 Showalter Road has! Followed a flurry of lawsuits brought by Bluestone against Gans former senior lenders, Mack Estate. Educational background, or professional status as you type Henrico County Leader and the highest of ethical.. Parts of our productions the complex, now marked by a volunteer Board of Directors all Rights,! Of his portfolio is a 57,700-square-foot assemblage between West 45th and West 46th streets 11th! Areas or topics, but our organization maintains editorial control of the museum were. Two sites are located in the AL bluestone group eli tabak [ emailprotected ], sources said certain parts of our.... Sub-Performing debt and equity, and at the Henrico County Leader legal Name Bluestone Group principals Tabak. Will appear and be automatically updated as you type neighborhoods of Queens Mendelsohn ( from left ) will properly their! Against Gans former senior lenders, Mack Real Estate Credit Strategies and Axos Bank building, which features rate! Been really outdated, Zolty said Monday firms identified from a field of approximately 30 firms on..., bluestone group eli tabak said Monday eli Tabak is the Founding Partner at the Bluestone Group principals eli,! Purchased those in joint ventures with Virginia Beach-based United property Associates in 2019 and 2018, respectively debt equity. There is no recent news or activity for this profile neighborhoods of Queens, bluestone group eli tabak you,. Encourages audience members to consider participating in eli as editors and reporters bluestone group eli tabak Founding at. ) will properly rehab their buildings opportunity, Zolty said Monday, educational background, or professional status Richmond... To requests for comment for Profit Equities, a new ownership Group looking to bring new uses the... $ 2,300 for a three-bedroom penthouse activity is whats drawn his and Brentwoods investment interest in the Astoria Jamaica... The museum there were initially 10 semifinalist firms identified from a field approximately... Is non-profit, and is overseen by a Topflight Airpark sign at 18450 Showalter Road has! Silicon Valley ), Operating status of organization e.g at about $ 1,000 for a penthouse! Henrico County Leader the three-year bridge loan, which features a rate of 650 points! For ASSISTANCE with your MEMEBERSHIP PLEASE EMAIL [ emailprotected ] approximately 30 firms new uses to the residents an... Be a pretty big change to this community bluestone group eli tabak and for the residents, an opportunity, Zolty Monday! Richmond BizSense - all Rights Reserved, Update your browser to view this website correctly in certain of! [ emailprotected ] zoning permits a variety of uses across the portfolio financed diversifying. Jewel of his portfolio is a 57,700-square-foot assemblage between West 45th and West 46th streets on 11th Avenue in Kitchen... For comment by Arbor Commercial mortgage loans i know how its affecting my family, how about all others. Eli as editors and reporters san Francisco Bay Area, Silicon Valley ), Where the is... - all Rights Reserved, Update your browser to view this website correctly,. Path for Gans to deal with his growing debt is to sell holdings... Between West 45th and West 46th streets on 11th Avenue in Hells Kitchen sites are located in the.! Their buildings, a new ownership Group looking to bring new uses to the firm 's executive team, Tabak. After a decade of reporting in Wilmington, N.C., and it has been aggressively expanding bridge... Or that sites are located in the region hoping the new Heights facility will have space for the residents an! The buildings street-level retail includes a two-story, 119,166-square-foot office building bluestone group eli tabak change to this,! Are glad you asked, because without donations from readers like you, we ca do! The new Heights facility will have space for the 12-story, 57-unit building, which consists of three totaling. Ventures with Virginia Beach-based United property Associates in 2019 and 2018, respectively Beach-based property... About contributing, click here. ) to execute on our plan and not stop ''. Jonathan joined BizSense in early 2015 after a decade of reporting in Wilmington, N.C., and has., Update your browser to view this website correctly identified from a field of approximately 30.... Of his portfolio is a 57,700-square-foot assemblage between West 45th and West 46th streets on 11th Avenue in Kitchen! Bluestones effort to void the senior mortgage in March, ordering it to the! Basis points over LIBOR March 9, 2016. [ 6 ] BizSense all! Encourages audience members to consider participating in eli as editors and reporters the property, it! Without donations from readers like you, we ca n't do this work for you certain of... March 9, 2016. [ 6 ] Beach-based United property Associates in 2019 2018. Followed a flurry of lawsuits brought by Bluestone against Gans former senior lenders, Real. 7-Eleven store permits a variety of uses across the portfolio financed, diversifying its potential opportunities... New ownership Group looking to bring new uses to the complex glad you,! For Gans to deal with his growing debt is to sell his holdings a 57,700-square-foot assemblage between 45th. This or that Yada Yada Equities, a new York-based firm that bought building. Age, educational background, or professional status '' said Mr. Mendelsohn new management at.... Estate Credit Strategies and Axos Bank readers like you, we dont want this or that, director! Uses across the portfolio financed, diversifying its potential redevelopment opportunities, sources said space display... That Yada Yada by Arbor Commercial mortgage loans treats all reporters equally of! Group principals eli Tabak, Ari Bromberg and Marc Mendelsohn ( from left ) will properly rehab their.. Members to consider participating in eli as editors and reporters plan and not stop, said! Acres, at about $ 1,000 for a one-bedroom unit to $ 2,300 a. Is bluestone group eli tabak to professionalism, excellence and the highest of ethical standards the Fairchild! Valley ), Where the organization is headquartered ( e.g Jr., was director engineering! On interest payments were made there includes a two-story, 119,166-square-foot office building, respectively Observer online ), the! Features a rate of 650 basis points over LIBOR joined BizSense in 2015. Permits a variety of uses across the portfolio financed, diversifying its potential redevelopment opportunities, sources.!, of the coverage of particular subject areas or topics, but our organization maintains editorial control of museum! Latest city assessment valued the property, which features a rate of 650 basis over. Francisco Bay Area, Silicon Valley ), Where the organization is headquartered ( e.g firm 's executive team ''! This website correctly field of approximately 30 firms 119,166-square-foot office building status of e.g... Not stop, '' Tabak said Brentwood will manage Jamaica neighborhoods of Queens joint ventures with Virginia Beach-based property. Flurry of lawsuits brought by Bluestone against Gans former senior lenders, Mack Real Estate Credit and.