It was owned by a few larger, more healthcare-type owners," Tabak said. , has been aggressively expanding its bridge lending platform lately. Mr. Terrasi is a distinguished banking and real estate professional with over 12 years of experience in commercial lending, construction financing, commercial and industrial loans, workouts, and the disposition of non-performing loans. Scores, the notorious Chelsea gentlemens club that inspired the 2019 film Hustlers but was shuttered by the pandemic, is one of several properties owned by Robert Gans. Legal Name Bluestone Group Inc. Company Type For Profit. With over 20 years of experience, The Bluestone Group specializes in the legal and financial services with recruiting expertise in Derivatives and Structured Finance including Derivatives and Structured Finance Attorneys, ISDA Master Agreement Negotiators, Confirmation and Operations Professionals, Collateral Management and Credit Risk Management.We pride ourselves on cultivating strong, long term relationships with our clients and candidates. [2][3], On June 1, 2007, Michigan State received a $28 million donation from businessman Eli Broad and his wife, Edythe, for the construction of a new art museum, to replace the old Kresge Art Museum in the school's art building. Fairchild's A-10 Thunderbolt II, known as the "Warthog," remains in active duty. Eli Tabak's business email address is e**@bluestonegrp.com. View contacts for The Bluestone Group to access new leads and connect with decision-makers. Gans wants $100 million in damages from Bluestone, alleging that its maneuvers have muddied the financial waters and prevented Gans from reconciling his debts. Get started for free, then add your whole team. It was owned by a few larger, more healthcare-type owners, Tabak said. (Jonathan Spiers photo). The mailing address of Topflight Owner LLC is listed in care of The Bluestone Group of New York. Gans also accuses Bluestone affiliates of secretly negotiating lease terms for 605 West 45th Street, a property that forms part of a larger assemblage but is not collateralized by Bluestones interests. [4] The five finalists[8] were: The selection committee announced on January 15, 2008, that Zaha Hadid had been selected. ELi may consider donations to support the coverage of particular subject areas or topics, but our organization maintains editorial control of the coverage. In January it originated a $109 million bridge loan for Hong Kong Supermarket owner Jeffrey Wu's building at 41-60 Main Street in Flushing, Queens, as reported by The Real Deal. A call to the firm was not returned Monday. On Friday, the owners of The Tillary Hotel at 85 Flatbush Avenue Extension in Downtown Brooklyn filed for bankruptcy, the same day it was scheduled for a UCC foreclosure auction. Tabak said theyre planning interior upgrades to the building and looking to fill two available retail spaces. Most recently a Vice President at Dime Savings Bank of Williamsburg, Mr. Terrasi will serve as Bluestone Group's Chief Operating Officer. Ebersole said she was a project manager in the production control department. In an effort to promote community news sharing and to focus especially on East Lansing, ELi confines itself to local news and information (you won't find any editorializing at ELi!) No donations are anonymous to the Board of Directors (the Board of Directors can see all of our financial information, including all donors and donations). A A A. Gans currently leases the property with an option to buy it. 2023 Richmond BizSense - All Rights Reserved, Update your browser to view this website correctly. The Bluestone Group and Bluestone Capital LLC & Principal at Bluestone Capital LLC Time Equities had paid $6.62 million for the building, which the city most recently assessed at just over $8 million. We think of ourselves as a "news cooperative" because we encourage all of our readers to consider contributing news and information. He holds a Bachelor of Business Administration with a concentration in Marketing from Pace University. Langer, of The Langer Co., is part of a new ownership group looking to bring new uses to the complex. NEW YORK, Oct. 1, 2014 /PRNewswire/ -- The Bluestone Group, a leading real estate investment firm in the New York tri-state area, today announced the hiring of Charlie Terrasi to lead ongoing operations and the company's expanding bridge and structured financing platform. This is still (going to be) an affordable community. The building is next door to 1005 E. Main St., a former bank building-turned-nightclub space that sold in a foreclosure auction Friday for $570,000. [4] Michael Rush was named as the founding director in December 2010. Following the approval of the museum there were initially 10 semifinalist firms identified from a field of approximately 30 firms. Bloomberg first reported both bankruptcies. We will cede no right of review or influence of editorial content, nor of unauthorized distribution of editorial content. The museum lacks a permanent space to display the airplanes and memorabilia it owns, he said. Our team is dedicated to professionalism, excellence and the highest of ethical standards. We retain full authority over what we publish, and we take very seriously our duty to the community to provide accurate, nonpartisan, factual news. Now its urgent, poor planning on the part of the new owners! Isaac Hagers Cornell Realty Management, and its partners, have filed for bankruptcy on two Brooklyn properties in the last week, hours before each was scheduled for a Uniform Commercial Code (UCC) foreclosure auction. Imperial Plaza is the firms biggest deal to date in Richmond, where Tabak said he is a minority investor in other properties owned by Brentwood. In an allegedly coordinated gambit last August, Bluestone sued Gans senior lenders in an attempt to void its $130 million mortgage, positioning it to purchase the loan at a significant discount, Gans claims. East Lansing Info, known as ELi, is a non-profit citizen-run local news cooperative of the people, by the people, and for the people of East Lansing, Michigan. The complex was built in 1967. Gans assets include the building that houses Scores on West 28th Street, a retail property in Soho and 32,000 square feet of industrial property in Queens. On this Wikipedia the language links are at the top of the page across from the article title. The multistory buildings are visible along Interstate 95. Under a restructuring plan, Cornell Realty will convert the residential component, which comprises the upper six floors of the 12-story property, into condominiums, per the filing. Jonathan joined BizSense in early 2015 after a decade of reporting in Wilmington, N.C., and at the Henrico County Leader. Most of the complex, now marked by a Topflight Airpark sign at 18450 Showalter Road, has been empty for several years. But the limited revenue was not enough to cover its debt obligations, per the bankruptcy filing. A JLL broker said the property had many interested parties., We want to continue operating the lumber yard at present, said Gans, but we have received many offers for joint ventures that likely would involve upzoning and redeveloping the property to create substantially more value.. The latest city assessment valued the property, which consists of three parcels totaling about 26 acres, at about $64.5 million. Rosewood Realty Group was hired to oversee the virtual UCC auction for both properties, according to the marketing material reviewed by CO, with Aaron Jungreis, Greg Corbin, Aaron Kline, Brandon Serota, Chaya Milworn and Elliot Haft making up the team. BizSense reporter Mike Platania contributed to this report. The Bluestone Group's Eli Tabak and 90-02 Queens Boulevard (Credit: Eli Tabak) May 10, 2019, 12:45 PM. Phone Number +1 212-991-6600. My mother is paying market rates for an apartment in the independent living section and loses hot water all the time and heat as well. One part includes a two-story, 119,166-square-foot office building. A joint venture between Eli Tabak's Bluestone Group and the Altmark Group has purchased a 235,584-square-foot industrial factory building in the Bronx for $44 million, sources told The Real Deal. Manhattan real estate investment firms Princeton Holdings and the Bluestone Group have closed on the first phase of a large national office portfolio acquisition with the purchase of four buildings - one each in Washington, D.C., Houston, San Diego and Sacramento, Calif. - for approximately $250 million. Eli is CEO of the Bluestone Group; Toby is a program supervisor at Yad Rachel, an organization that serves women suffering from postpartum depression, and she's a founder of Weecare Preemies, a support group for parents of premature infants. Bluestone Group is a privately held commercial real estate investment firm specializing in the acquisition of value-add and distressed commercial real estate as well as non-performing debt. The second property, where Hager planned to build a 26-story, mixed-use tower with a 275-key hotel, was also purchased in 2019 with MRC as the senior lender. He said American Heritage was 95 percent occupied at closing. Our work is made possible by our generous supporters. We do not publish any "sponsored content" or "native advertising." A spokesman for Mack Real Estate declined to comment. from 8 AM - 9 PM ET. Read the latest edition of the Commercial Observer online! In keeping with the standards of the Institute for Nonprofit News, of which we are a proud member, our organization make public which donors give a total of $5,000 or more per year on our Sponsors page. Founding Partner & CEO, The Bluestone Group and Bluestone Capital LLC & Principal at Bluestone Capital LLC New York City Metropolitan Area Eli Tabak Owner, Mower n More Milford, MA Eli. His vast real estate lending experience will enable the team to deliver the creative financing options, favorable terms and flexibility its clients have come to expect. But the company shut down its local operations in the 1980s, according to previous Herald-Mail Media reports. According to an economic study published by the Anderson Economic Group,[18] the museum was projected to generate approximately $5.75 million per year in new spending into the regional economy. Eli Tabak has been working as a Chief Executive Officer at The Bluestone Group for 16 years. There is no recent news or activity for this profile. . Eli Tabak's Bluestone Group is the mezzanine lender on both properties, with $6 million on the hotel property and $3.5 million on the development site. led the origination of the $148 million loan and. In order to foster transparent, civil conversation, please include your full name when posting comments. Meanwhile, Bluestone and Brentwood have further upped their investment in the Richmond market with their purchase of a downtown apartment building. We work hard to make sure we do not make news decisions on the basis of donor support, because we see our duty as being to the community as a whole. Originally scheduled to open April 21, 2012, the official dedication was delayed until November due to "a combination of material supply delays and the priority placed on involving students in opening activities". Particular subject areas or topics, but our organization maintains editorial control of the complex, marked. 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