Parkview files $92M pre-foreclosure action at Baruch Singer’s Midwood commercial project

The long-simmering battle over Baruch Singer’s commercial development project at 1508 Coney Island Avenue in Midwood, Brooklyn, has escalated.

On March 31, 2026, PV 1508 CIA, LLC, a vehicle for Los Angeles-based Parkview Financial, filed a $92 million pre-foreclosure action in Kings County Supreme Court against Triangle 613, LLC, an entity controlled by developer Baruch Singer.

This action follows Baruch Singer initiating three actions against lender Parkview, including in February and March 2024, and again in December 2025 through 542882/2025. In addition,  Parkview Financial sued Baruch Singer over a guaranty in April 2024.

Case 511339/2026 LINK

The new suit alleges that Singer’s firm defaulted on a $92 million construction loan package originally issued in April 2022. Despite a 2024 modification agreement that extended the construction deadline to October 2025 and the maturity date to December 31, 2025, the lender claims the project remains incomplete and the debt unpaid. The lender is now seeking a total of $124.5 million, a figure that encompasses $92.2 million in unpaid principal, $26.4 million in accrued interest, $4.95 million in default interest, and nearly $1 million in legal fees.

Crain’s New York reported on this pre-foreclosure action yesterday.

This filing follows years of friction between the two parties. In the March 2024 action, Singer’s affiliate sued Parkview, alleging the lender had stalled construction by failing to provide consistent funding.

Parkview CEO Paul Rahimian has countered that the project was plagued by cost overruns and mismanagement.

The 10-story, 215,000-square-foot SHoP Architects-designed building is a major developer for the Midwood neighborhood, featuring a food hall, a yeshiva, medical offices, and a high-tech automated parking system. However, the project has faced delays for over a decade, with foundation work dating as far back as 2014.

PincusCo previously reported on Parkview’s initial move to seek $54 million from Singer amid the escalating yeshiva and office project delays.

The Real Deal also detailed the long-running problems and the lawsuit filed by Singer against Parkview regarding the $92 million loan.

Earlier coverage The Real Deal chronicled the original closing of the $92 million loan in May 2022, which was intended to replace prior debt and finalize the construction.

The current action also names several mechanics lien claimants, including SPX Cooling Tech LLC, Ultron Systems Inc., and ADE Systems Inc., as defendants to clear the property’s title for a potential foreclosure sale. Heidi J. Sorvino and James C. Vandermark of White and Williams LLP represent the plaintiff.

The property

The specialty building in Midwood has 215,379 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 340 feet and is 100 feet deep with a total lot size of 34,000 square feet. The zoning is C8-2 which allows for up to 2 times floor area ratio (FAR) for commercial. The city-designated market value for the property in 2022 is $28.3 million. The most recent loan totaled $92 million and was provided by Parkview Financial on April 28, 2022.

Prior sales, articles and revenue

This property was sold with 8 other properties for $27 million on December 6, 2006.

Development

Baruch Singer submitted a new building construction project for a commercial (B) building at 1508 Coney Island Avenue. The plan was filed on December 12, 2017 and was permitted on November 25, 2019. It was filed with the New York City Department of Buildings under job number 320910181.

Violations and lawsuits

According to city public data, the property has received $5,525 in ECB penalties and $5,525 in OATH penalties in the last year.

The property was involved in three lawsuits the past two years. The highest value suit was a $54.2 million money judgment concerning a loan filed on April 17, 2024, by Parkview Financial against Baruch Singer.

The neighborhood

In Midwood, The majority, or 53 percent of the 19.3 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 15 percent of the space. In sales, Midwood has near average sales volume among other neighborhoods with $235 million in sales volume in the last two years and is the 29th highest in Brooklyn. For development, Midwood has near average amount of major developments among other neighborhoods and is the 34th highest in Brooklyn. It had 275,078 square feet of commercial and multi-family construction under development in the last two years, which represents 1 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of one of the 11 commercial properties representing 191,106 square feet of the 297,906 square feet. The identified owner is Baruch Singer. On the tax block, there was one new building construction project filed totaling 146,814 square feet. It is a 146,814 square-foot business (B) building submitted by Baruch Singer and filed by Baruch Singer with plans filed December 12, 2017 and permitted June 25, 2019.

The owner

The PincusCo database currently indicates that Baruch Singer owned at least four commercial properties in New York City with 256,619 square feet and a city-determined market value of $23.6 million. (Market value is typically about 50% of actual value.) The portfolio has $154.7 million in debt, with top three lenders as Parkview Financial, Bank Leumi, and Berkshire Bank respectively. Within the portfolio, the bulk, or 74 percent of the 256,619 square feet of built space are specialty properties, with mixed-use properties next occupying 15 percent of the space. The bulk, or 74 percent of the built space, is in Brooklyn, with Manhattan next at 26 percent of the space.

The surrounding

This is the first commercial real estate event of interest identified within the 400-foot radius of 1508 Coney Island Avenue in the past 24 months.

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