Safe Harbor Equity files $6M pre-foreclosure at 56-unit dev site in Astoria

One month after buying the debt, Florida-based Safe Harbor Equity through the entity 3075 21st Street Lender LLC filed a pre-foreclosure action claiming $6 million in principal secured by a development site (V1) at 30-75 21st Street in Astoria, Queens, was in default. Florida-based Safe Harbor Equity focuses on buying distressed commercial debt.

Court filings represent the position of one party and are not necessarily accurate or complete.

On the lot, there is one active new building construction project for a 56-unit, 45,751 square-foot R-2 building. The project was submitted by Szilvia Barnett with plans filed December 2, 2021 and it has not been permitted yet.

According to the complaint, “Borrower failed to comply with its obligations under the Senior Note, and thus defaulted under the terms of the Senior Note, Senior Mortgage, Building Mortgage, and other Loan Documents, by failing to timely make the monthly interest-only payment that became due in June 2023 and all subsequent payments.”
The complaint identifies Janos Kanta as the signatory under loan guarantys, but the loan signatories were Szilvia Barnett and Theodore P. Kasapis, who are not named in the action.

On July 14, 2023, Safe Harbor Equity through the entity 3075 21st Street Lender LLC bought two notes with an original principal of $7 million from Maxim Capital Group secured by Szilvia Barnett and Theodore P. Kasapis’s development (V1) at 30-75 21st Street in Astoria, Queens. Safe Harbor Equity bought the debt from Maxim Capital Group, which lent an undisclosed amount of money to Safe Harbor for Safe Harbor to buy the debt.

The owner bought the property on October 28, 2020, for $13 million. The signatory for Szilvia Barnett and Theodore P. Kasapis was Szilvia Barnett and Theodore P. Kasapis.

Direct link to the property’s ACRIS page.