$4.8M bankruptcy in 10-year-old Jamaica foreclosure case

Property owner Esmaeil Hosseinipour as president of the company Hova Management Group filed a bankruptcy petition to halt a foreclosure sale of four Jamaica, Queens properties at 92-08 175th Street to 92-14 175th Street valued at $4.8 million. This is the second bankruptcy the property owners have filed since the lender Maspeth Federal Savings filed the original pre-foreclosure action 10 years ago to the month.

According to the petition filed in the U.S. Bankruptcy Court for the Eastern District of New York, Maspeth Federal Savings has a lien $3,835,482. The first bankruptcy was filed November 21, 2019 in the Eastern District under index number 8-19-77963 to halt a foreclosure sale noticed on October 23, 2019.

This new action was filed to halt a foreclosure sale ordered on February 16, 2023, by a Queens judge in the 10-year-old case. The original index number is  5975/2013, which was filed on March 28, 2013. The case has been refiled under the index number 710215/2021.

The four properties each have four units and approximately 3,760 square feet for a total of 16 units and 15,040 square feet. A Sepideh Hosseinipoor, also designated president of Hova Management Group  and a partner bought the parcels in 2000 and constructed the buildings.

In one of the new buildings plans, Essy Hosseinipour of NY Pride Holdings, Inc. submitted a new building construction project for a four-unit residential (J-2) building at 92-10 175th Street. The plan was filed on June 21, 2001 and was permitted on October 22, 2004. It calls for the construction of a 42-foot tall, four-story building and was filed with the New York City Department of Buildings under job number 401253344.

Bankruptcy LINK

Direct link to the property’s ACRIS page and link to DOB NOW portal.