Ziel Feldman is Chairman/Founder at Hfz Capital Group. HFZ obtained its interest in the buildings in a partnership with Westchester, New York-based industrial investment firm Reich Brothers. A spokesperson for Attorney General Tish James confirmed the office received the complaint, but declined to comment further. During that time, he also allegedly asked for credit card reimbursements totalling more than $11 million. Previously, Ziel was a Board Member at Chai Mitzvah. free lookups / month. Ziel Feldman - HFZ Capital Group Part 2 - EisnerAmper The lender informed HFZ it was in default. Location New York, New York, United States. Meir has been described as aggressive even by New York developer standards. Feldman, chief executive of HFZ Capital, one of the city's swankiest developers . You are subjecting your financial life to the scrutiny of all sorts of different things, said Andrew Ittleman, an attorney at the Miami-based law firm Fuerst Ittleman David & Joseph who focuses on white-collar crime and money laundering, commenting generally and not about HFZ. CIM, which did not respond to a request for comment, can still go forward with another foreclosure sale if it meets certain conditions. He had been part of an investment group that had paid just $15 million for the property in 1994. The Real Deal on Instagram: "Ziel Feldman has listed his Upper East HFZ is one of New Yorks most prolific condo developers, with projects like the $2 billion XI development on the High Line in West Chelsea and the conversion of several pre-war apartment buildings into condos, including the famed Belnord apartments on the Upper West Side. (business & personal). HFZ Capital Group Chairman and Founder Ziel Feldman discusses his current projects in Detroit with EisnerAmper Real Estate Services Group Partner Lisa Knee in Part 3 of this series. The partners started with a pair of rental buildings on 64th Street near Central Park and spent the next decade-plus buying multifamily buildings. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. Watch: Developer Patrick Carroll "spits" on restaurant manager, Office tenants shift search to East Bay suburban markets, Real estate lender dodges bullet after Signatures collapse, Miami luxury real estate agent pleads guilty in PPP fraud case. Up to 5 The $7 million sale price was a far cry from the $20 million the 18,500-square-foot mansion was asking at one point, and didnt even cover the $13 million Feldman reportedly spent to buy and overhaul the property. Many developers saddled with unsold units in a sluggish market are in a tight spot. Michael Rubin buys Ziel Feldman's $50M Hamptons mansion The Manhattan real-estate industry is a game of winners and losers, Feldman says, and even titans lose big sometimes. HFZs seasoned in house sales and marketing professionals draw on acombined track record of over five decades of experience and more than $20B in sales. ), The project was recently embroiled in a mob scandal in which members of the Gambino crime family allegedly bought off an HFZ executive so they could skim hundreds of thousands of dollars from it and other Manhattan projects. HFZ Capital Group. Firmly established but resolutely pioneering . Understanding that edifices exist far beyond the moment theyre created, HFZ is equally invested in the past and the future. He said Meir has paid more than $10 million in recent months to satisfy HFZ creditors. At the XI, HFZ was mostly silent on sales activity, a common tactic among developers as they are not legally required to publish contract information. (After publication, a judge sided sided with Meir and did not sign an order of attachment on the property.). News - HFZ Capital Group Jan. 8, 2013. HFZ has also been accused of intermingling funds at the XI. Feldman built the 8,000-square-foot-house in 2014. But in a lawsuit filed earlier this month, the Feldman accused Meir of stealing $15 million through fraudulent credit card reimbursements and wire transfers. For years, Feldman repeatedly denied allegations that he was backed by controversial diamond magnate Beny Steinmetz. Ziel Feldman puts his own UES pad on the market. New York, New York, NY, United States, US, View Nir Meir and HFZ's Ziel Feldman. Just as CIM alleged that Meir lied about sending payments, Starwood alleges the HFZ principal claimed to have sent two separate wire transfers to fund overdue payments that never materialized. The complaint also names lenders JPMorgan Chase and CIM Group, claiming they were aware of the violations and turned a blind eye. The suit claimed Meir lived well above his means on HFZs dime and seeks $43 million in damages. I think theres a lot of other distress going on that people are working on quietly, behind the scenes.. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. Watch: Developer Patrick Carroll "spits" on restaurant manager, Former Westchester home of KKR co-founder list for $11M, The texts are now evidence in a legal battle as HFZ the prolific developer Meir launched 15 years ago with co-founder and chair Ziel Feldman fights CIMs efforts to foreclose on the debt. Rounding out its vertically integrated platform, the sales and marketing division continues to grow with the portfolio. Ziel Feldman is the Founder and Principal of HFZ Capital Group. The firm has approximately 15 million square feet under ownership and . The desirable and daring momentum of each successive accomplishment infuses the city with new energy and lifts it to new heights. People Like . Regions Greater New York Area, East Coast, Northeastern US. The original developers, Marc Jacobs and Ira Shapiro, were buried by debt and lawsuits, and HFZ and its partners inherited a nearly complete but stalled tower. He also owns a palatial waterfront home in the Hamptons on Dune Road. It was the one of the largest debt packages of the cycle. HFZs eclectic and distinguished portfolio is designed to be appreciated from both acreative and investment perspective. Representatives for Feldman and Meir did not immediately respond to requests for comment. The lender has already held talks with at least one prominent New York developer about getting the project over the line, the people added. Developer to Pay Over $800 Million for Site Near High Line Paradoxically, distress in the condo market could work in HFZs favor. Douglas Elliman, which handles sales at the project, has tried, unsuccessfully, to, The project was recently embroiled in a mob scandal in which members of the, Three of the most prolific condo developers in New York got their start together at Property Markets Group, which Feldman, a Queens-born former real estate lawyer, co-founded with banker Kevin Maloney in 1991.
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