Lender Toorak Capital Partners filed six pre-foreclosure cases yesterday against a developer tied to projects in the Bronx totaling $13.9 million. The cases allege the developer of the six properties in the borough had defaulted on the loans with a combined original principal of $13.9 million. The actual amount they allege is due is much higher.
The developer Gil Broitman is named in all six cases, and Sameer Batra is named in four of the cases. Broitman and Batra are co-founders of Brooklyn Grid, a real estate development firm focused on small new construction and redevelopment projects.
Court filings represent the position of one party and are not necessarily accurate or complete.
The developer bought the buildings in 2019 and then filed new construction or redevelopment plans for each parcel. Some of the projects have run into construction difficulties, according to the court filings.
The complaints allege some of the loans have not been repaid after several extensions and forbearance periods. In addition, Broitman is the respondent in at least four housing actions the New York City Department of Housing Preservation and Development has brought since 2022 seeking repairs at his buildings.