Auction for Thor’s $23.4M Meatpacking retail set for July; auction for Kushner’s $295M Times Square retail set for May

$23.4M Thor Meatpacking retail foreclosure auction set: A foreclosure auction for the retail building at 446 West 14th Street in the Meatpacking District that Thor Equities bought in 2007 for $23.4 million was set for July 17, 2024, court records show.  The auction date is 18 months after Maverick Real Estate Partners, a lender and active loan buyer, bought the defaulted note in November 2022 from an affiliate of Granite Point Mortgage Trust, and in January 2023 filed the pre-foreclosure action.

The auction is planned to be held in room 130 of the New York County Supreme Court building at 60 Centre Street, on July 17, 2024 at 2:15 p.m.

In January 2024, Manhattan State Supreme Court Justice Jennifer Schechter signed an order approving the foreclosure sale of the building. The referee Julian White in a December 2023 court filing, set the total judgment at the time at $24.7 million.

Case 850017/2023 LINK

Direct link to the property’s ACRIS page

$295M Kushner Times Square retail foreclosure auction set: A foreclosure auction for the retail condominium unit at 229 West 43rd Street in Times Square that Kushner Companies through the entity Elmwood NYT Owner LLC bought in October 2015 for $295 million was set for May 29, 2024, court records published April 29 show.
Crain’s reported on the auction in March, citing a notice by the bond rating firm KBRA.

The original loan provided in October 2016 was $285 million, and was securitized into Series 2016-CD2. The special servicer representing bondholders filed to foreclose on the loan through the index number 850176/2020 in November 2020.

Direct link to Acris document. link