{"id":101776,"date":"2026-01-16T00:01:49","date_gmt":"2026-01-16T00:01:49","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/101776\/"},"modified":"2026-01-16T00:01:49","modified_gmt":"2026-01-16T00:01:49","slug":"blackstone-sues-to-foreclosure-on-manhattan-office-building","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/101776\/","title":{"rendered":"Blackstone Sues to Foreclosure on Manhattan Office Building"},"content":{"rendered":"

Blackstone is looking to foreclose on a Manhattan office building where brothers Eli and Isaac Chetrit allegedly defaulted on a $19 million loan.<\/p>\n

The lender filed a New York state lawsuit to take 286 Fifth Avenue, a 12\u2011story, 44,400\u2011square\u2011foot property, Crain\u2019s New York Business reported<\/a>. Blackstone acquired the debt after Signature Bank\u2019s 2023 collapse.<\/p>\n

The Chetrits are members of the high-profile family of investors that has multiple<\/a> distressed properties<\/a> in New York. The outlet was unable to reach them for comment.<\/p>\n

The brothers have faced similar troubles before. In 2024, debt dealer<\/a> Maverick Real Estate Partners, which recently bought other Chetrit holdings at auction, sought to foreclose on their SoHo property at 447 Broadway over an unpaid $14.7 million Signature\u2011issued loan. In that case, the Chetrits argued that Signature\u2019s sudden failure deprived them of the opportunity to renegotiate terms.\u00a0<\/p>\n

That dispute was settled<\/a> for an undisclosed amount earlier this year, suggesting they may raise similar arguments again.<\/p>\n

According to the new complaint, the Chetrits stopped making payments on the loan in December 2024. Blackstone issued a default notice in May demanding repayment of the remaining principal \u2014 now $15.6 million \u2014 and future rents from tenants, which include a law firm, a psychology practice and an Arthur Murray Dance Studio.\u00a0<\/p>\n

The building is 95 percent leased at roughly $40 per square foot, but the owners allegedly did not comply with the notice.<\/p>\n

For decades, 286 Fifth belonged to the Kiamie family, led by Syrian immigrant and entrepreneur Najeeb Kiamie, whose Windsor Management still operates in the market. The Chetrits, through AB & Sons Group, appear to have co\u2011owned the building with the Kiamies before taking full control.\u00a0<\/p>\n

AB & Sons signed an $11.1 million mortgage in 2007, and later the 2017 loan that\u2019s now in dispute. The building changed hands internally in 2022, with ownership transferred to an entity called Zhora State Equities.<\/p>\n

Blackstone acquired a large portion of Signature\u2019s loan book in late 2023, including the debt tied to 286 Fifth Avenue. Court filings show AB & Sons\u2019 members include Eli\u2019s son, Abraham.\u00a0<\/p>\n

Attorneys for the ownership entities either declined to comment or were unavailable, according to Crain\u2019s.<\/p>\n

\u2013 Joel Russell<\/p>\n

\tRead more
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Chetrits mismanaged Williamsburg hotel, lender says in foreclosure suit<\/p>\n

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\t\t\t\t\t\t\t\t\t\t\t\t\t\"Inside\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

Inside the Chetrit family\u2019s growing legal tangle<\/p>\n

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\t\t\t\t\t\t\t\t\t\t\t\t\t\"Meyer\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

Maverick quietly takes Chetrit interests at own auction<\/p>\n

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\t\t\t\t\t\t\t\t\t\t\t\t\t\"Isaac\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

Isaac and Eli Chetrit near end of Maverick nightmare<\/p>\n

\t\t\t<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Blackstone is looking to foreclose on a Manhattan office building where brothers Eli and Isaac Chetrit allegedly defaulted…\n","protected":false},"author":2,"featured_media":101777,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[46580,75,84,83,9,24,63],"class_list":["post-101776","post","type-post","status-publish","format-standard","has-post-thumbnail","category-manhattan","tag-blackstone-foreclosure-suit-against-chetrits","tag-manhattan","tag-manhattan-headlines","tag-manhattan-news","tag-new-york","tag-new-york-city","tag-nyc"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/101776","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=101776"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/101776\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/101777"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=101776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=101776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=101776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}