Courts roundup: Alice Nussbaum portfolio dispute; 5 Arch sues Yoel Goldman over $2.6M, more

Courts roundup for March 31, 2021: There were no New York City real estate bankruptcies of interest. There were not commercial foreclosures, but there was one suit seeking repayment from a guarantor, Yoel Goldman.

Plaintiff-co-trustee of Alice Nussbaum’s six-building property trust seeks an accounting of the assets managed by his brother who is co-trustee. The trust is for their mother who is 87.

These are the assets: Property 495 West 186th Street, NY 10033 Company Nussbaum Associates Co LLC Trust Interest 50.00% Property 99 Marble Hill Avenue, BX 10463 Company Nussbaum Realty Co LLC Trust Interest 50.00% Property 2512-20 Tratman Avenue, BX 10461 Company Jayherb Realty Corporation Property 40-29 40-35 Ithaca Street, QNS 11373 Company Morjay Realty Corp. Trust Interest On information and belief, 26.00% Trust Interest 50.00% Property 41-09 41st Street, QNS 11104 Company Morjay Realty Company LLC Trust Interest 50.00% Property 735-747 Allerton Avenue, BX 10467 Company Hollerton Realty CorporationTrust Interest 12.50% Alice Interest 12.50% LINK

The New World Shopping Center in Flushing filed suits against eight tenants in the former Alexander’s building at 136-20 Roosevelt Avenue, for a total of just under $2 million. The building is owned by the Estate of Sol Goldman and leased to Vornado Realty Trust, which in turn leases it to the New World Shopping Center. The shopping center in turn signs license agreements with individual tenants.  LINK

5 Arch sues Yoel Goldman for $2.58M: Lender 5 Arch Funding provided $2.58 million in April 2019 secured by three properties at 394, 396 and 398 Gates Avenue in Brooklyn, with Yoel Goldman as guarantor. This is a suit for the guaranty, not to foreclose. LINK

The City of New York filed 28 unsafe building lawsuits against properties in Brooklyn, Queens and Manhattan, alleging that they were unsafe. The city is seeking that the owner secure the buildings and if not the city is seeking a judgment that the buildings are unsafe and will been secured or demolished. The properties include 467 West 147th Street in Manhattan, 781 Flatbush Avenue in Brooklyn and 105-16 Northern Boulevard in Queens. LINK