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. She's hoping the New Heights facility will have space for the historic Fairchild planes that were made there. The complex has been divided into two parcels. The museum lacks a permanent space to display the airplanes and memorabilia it owns, he said. Bluestone continues to seek opportunities in the distressed debt and REO arena as well as traditional commercial real estate opportunities. Eli Tabak's HQ phone number is +1908-541-9600. This is all pandemic-related, said FIA Capital Partners principal David Goldwasser, who is handling the workout. Some of those ideas range from an indoor/outdoor recreational center to aircraft-related uses to distribution facilities to museum and convention center space. (Zaha Hadid Architects). 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.". from 8 AM - 9 PM ET. Bluestone invests in opportunistic situations, distressed properties, sub-performing debt and equity, and non-performing commercial mortgage loans. 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. We retain full authority over what we publish, and we take very seriously our duty to the community to provide accurate, nonpartisan, factual news. I just moved my dad to the memory wing Feb 3. in both cases in September after Hager defaulted on interest payments. Meanwhile, Bluestone and Brentwood have further upped their investment in the Richmond market with their purchase of a downtown apartment building. A call to the firm was not returned Monday. Officials at the brokerage declined to comment on the details of the financing, or to identify the borrower. Active, Closed, Whether an Organization is for profit or non-profit, General contact email for the organization. Tabak said theyre planning interior upgrades to the building and looking to fill two available retail spaces. The deal had not been recorded with the city by noon Monday and was not reflected in online records by close-of-business. Cornell Realty did not immediately respond to request for comment. 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. On Friday, the owners of The Tillary Hotel at 85 Flatbush Avenue Extension in Downtown Brooklyn filed for bankruptcy, the same day it was scheduled for a UCC foreclosure auction. 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. We do not accept any conventional advertisements. 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. TIL. Tabak and two partners launched Bluestone in 2006, but the firm found its niche in 2008, when the housing bubble burst. The former hangar and factory areas have been rechristened New Heights Industrial Park. The Naturalist Group is a full service design/build landscape firm. History. "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. Phone Number +1 212-991-6600. Tabak said the transaction closed Feb. 25 and was partially financed by Arbor Commercial Mortgage. The property is tired, and were coming in with a very large and expensive upgrade and renovation plan to bring it back to its original glory. 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. Real Estate. Eli Tabak's direct mobile number is (646) XXX-XXXX. In January it originated a $109 million bridge loan for Hong Kong Supermarket owner Jeffrey Wu's building at 41-60 Main Street in Flushing, Queens, as reported by The Real Deal. Some of the other speakers Tuesday were John Seburn, president of the Hagerstown Aviation Museum, and Pam Ebersole, a former Fairchild employee. derivative attorneys The deal followed a flurry of lawsuits brought by Bluestone against Gans former senior lenders, Mack Real Estate Credit Strategies and Axos Bank. Michael Rush died of pancreatic cancer on March 27, 2015. 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 We find it to be an exciting market.. Rosewood and Bluestone declined to comment. Mr. Terrasi's addition to The Bluestone Group's executive team is a part of the continued expansion of the firm's rapidly growing lending platform that focuses on financing complex and time-sensitive real estate investment transactions. [7] From the list of semifinalists, five architectural firms were selected to submit competition proposals. Well said, Bruce! When typing in this field, a list of search results will appear and be automatically updated as you type. The foundation for the structure is now complete and ready for construction, according to an offering memo obtained by Commercial Observer. Update my browser now. Hager has until April 4 to come up with a restructuring plan for 159 Broadway, per the, was hired to oversee the virtual UCC auction for both properties, according to the marketing material reviewed by CO, with, Armada Merges With Data Analytics Firm Arialago to Target REIT Research. Over the course of his career he has successfully originated in excess of $1 Billion in commercial mortgages, as well as the disposition and workout of $150 + million of non accrual loans. 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 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. 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. A A A. According to an economic study published by the Anderson Economic Group,[18] the museum was projected to generate approximately $5.75 million per year in new spending into the regional economy. Note: This story has been updated to clarify that Bluestone and Brentwood bought the American Heritage Apartments building together. Most of the complex, now marked by a Topflight Airpark sign at 18450 Showalter Road, has been empty for several years. Private investor Robert Gans 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. For more informaiton, head over to your profile. A multimillion-dollar updating of one of Richmonds longest-running senior living communities is in the works following a $75 million purchase last week. The Bluestone Group's Eli Tabak and 90-02 Queens Boulevard (Credit: Eli Tabak) May 10, 2019, 12:45 PM. Bluestone has been very active in the pursuit of NPL's in the New York tri-state area, closing in excess of $300,000,000 in transactions in the past year. Click here to see your options, all of them free. The building is next door to 1005 E. Main St., a former bank building-turned-nightclub space that sold in a foreclosure auction Friday for $570,000. Hager has until April 4 to come up with a restructuring plan for 159 Broadway, per the docket. But the limited revenue was not enough to cover its debt obligations, per the bankruptcy filing. But the company shut down its local operations in the 1980s, according to previous Herald-Mail Media reports. Reach him at [emailprotected] or (804) 308-2447. Is the displacement of that many seniors really good news about Richmonds future ? We promise to execute on our plan and not stop,"Tabak said. (Photo courtesy of Bluestone Group). 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. Tenants are skeptical that Bluestone Group principals Eli Tabak, Ari Bromberg and Marc Mendelsohn (from left) will properly rehab their buildings. Northeastern US Financial Services Acquired Companies. During the Covid shutdown my mothers apartment and furnishings became infested with roaches, and it has caused numerous issues during her move to a new facility (including loss of furniture due to severe infestation) Trying to get any real response from management took months of work with myself and the state ombudsmans office. The museum "will generate new opportunities for existing businesses and potentially new businesses", the report noted, adding that it "is likely to attract visitors with relatively high incomes, high levels of education, and tastes and preferences"[1]. 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. The American Heritage Apartments building at the corner of East Main and South 10th streets downtown. Commercial brokerage JLL is marketing Gans 616 11th Avenue, where he owns Metropolitan Lumber & Hardware, as a development site. Specifically, the study predicted that visitors would spend: "We fully expect to be a significant contributor to our local economic engine", said Michael Rush, founding director of the Broad Museum. There is no recent news or activity for this profile. The multistory buildings are visible along Interstate 95. Seburn traced a brief history of the company and singled out each airplane on display, from small trainers to large "flying boxcars.". 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. Several days later, a bankruptcy plea was entered for a development site at 159 Broadway in Williamsburg, where foundation work for a 26-story tower had begun just before it was slated to go to auction Monday. [5] Marc-Olivier Wahler was named the director on March 9, 2016.[6]. Eli Tabak's email address is e**@bluestonegrp.com. 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. Bluestone initiated the UCC foreclosure process in both cases in September after Hager defaulted on interest payments. Bluestone Capital, led by co-founders Eli Tabak and Marc Mendelsohn, has been aggressively expanding its bridge lending platform lately. 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. 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. Now its urgent, poor planning on the part of the new owners! Langer asked people to "use your vision and imagination" to see "what this property can be.". The Bluestone Group is part of the Business Services industry, and located in New Jersey, United States. Eli Tabak works in the Staffing & Recruiting industry. Renew now by choosing a subscription below! in Downtown Brooklyn filed for bankruptcy, the same day it was scheduled for a UCC foreclosure auction. 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. And museum space is one of the ideas being considered for the New Heights development. Eli Tabak and Marc Mendelsohn of The Bluestone Group attended Tuesday's event. Ebersole has been a volunteer for the museum. 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. ALL MEMBERSHIPS RENEW AUTOMATICALLY. Fairchild's A-10 Thunderbolt II, known as the "Warthog," remains in active duty. Langer, of The Langer Co., is part of a new ownership group looking to bring new uses to the complex. In order to foster transparent, civil conversation, please include your full name when posting comments. Eli Tabak and Marc Mendelsohn, founding partners at The Bluestone Group, are confident that Mr. Terrasi is a great fit. Eli Tabak did not respond to requests for comment. The Naturalist Group, Milford, Michigan. Zolty said they will be moving quickly on the upgrades, which he said theyll be communicating to residents in more detail later this week. Sharon perhaps you know by now the intention of new management at IP. 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. He makes an excellent addition to the firm's executive team," said Mr. Mendelsohn. 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