DOWNTOWN BROOKLYN — A high-stakes court battle is underway over 141 Livingston St., the 15-story building housing Kings County Civil Court, as lenders move to foreclose on Clipper Realty, the property’s owner, reports Crain’s New York Business.
Clipper, led by CEO David Bistricer, calls the foreclosure “frivolous,” arguing lenders are trying to oust the court ahead of its Dec. 27 lease expiration in order to seize the building. Lenders, including Wells Fargo, allege Clipper defaulted on a $100 million mortgage after failing to fund a $10 million reserve.
The Department of Citywide Administrative Services plans to relocate the court to 210 Joralemon St. by 2026.
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