Barry Rudofsky bought 89 cooperative apartments in two buildings in the Kips Bay neighborhood in a foreclosure auction last week for $15 million, according to an article in today's edition of The Wall Street Journal by Yaffi Spodek.
Mr. Rudofsky is with Bronstein Properties, the article said.
Sixty of the apartments are at Victoria House at 200 East 27th Street and 29 are at the Peter James at 201 East 25th Street, the article added.
"The Kips Bay co-ops are tied to embattled developers Simon Elias and Izak Senbahar, of Alexico Group. According to court papers, they were the principals of a limited liability corporation, 200 East 27, that borrowed $15.5 million from New York Commercial Bank in 2007. The promissory noted, backed by all 89 units, went into default, papers said. Lawyers representing 200 East 27 LLC last week requested a temporary postponement of the foreclosure auction but that was denied by a New York State Justice," the article said.
All of the apartments are subject to rent stabilization and most of them are occupied, the article said.
Mr. Rudofsky is with Bronstein Properties, the article said.
Sixty of the apartments are at Victoria House at 200 East 27th Street and 29 are at the Peter James at 201 East 25th Street, the article added.
"The Kips Bay co-ops are tied to embattled developers Simon Elias and Izak Senbahar, of Alexico Group. According to court papers, they were the principals of a limited liability corporation, 200 East 27, that borrowed $15.5 million from New York Commercial Bank in 2007. The promissory noted, backed by all 89 units, went into default, papers said. Lawyers representing 200 East 27 LLC last week requested a temporary postponement of the foreclosure auction but that was denied by a New York State Justice," the article said.
All of the apartments are subject to rent stabilization and most of them are occupied, the article said.
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Carter Horsley
Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
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