Richard Ohebshalom buys out father’s stake at FiDi dev site valued at $57.7M

Richard Ohebshalom paid Fred Ohebshalom for a stake valued at $57.7 million in the development site 111 Washington Street and 105 Washington Street in the Financial District. The deal closed on August 11, 2020, and was recorded on September 9, 2020. The transaction consists of 2 parcels, including the tax class miscellaneous amusement or recreation including riding academies and stables (P9).

Richard Ohebshalom, the son of Fred Ohebshalom, bought out his father’s interest in 111 Washington Street, valued at $57.7 million. The family acquired the property in June 30, 2011, for $57,554,992. Richard’s company is Pink Stone Capital and Fred’s company is Empire Management.  The buyout was financed by an $80 million loan from Carmel Partners and Fortress Investment Group and a $7 million loan from CBO Funding and Alwest Funding, and the parcel is now being offered for sale, The Real Deal reported. The loan was arranged by Galaxy Capital Group. The transaction included taxes to the city and state of $1.9 million.

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