Real Estate
This Upper East Side Building Is At Risk Of Foreclosure: Report
The building is only half-full of tenants, and its lenders accused its owners of missing a year of payments, according to Crain's New York.
UPPER EAST SIDE, NY — An Upper East Side medical building is at risk of foreclosure after its lenders accused its owners of being more than a year behind on mortgage payments, Crain's New York Business reported.
According to Crain's, the building, which is located at 162 E. 78th St. near Lexington Avenue, is a townhouse-style medical office building two blocks from Lenox Hill Hospital, and it is less than half full of tenants, who include gynecologists, physical therapists and psychologists.
In a lawsuit filed last Wednesday in Manhattan Supreme Court, the group of investors — Blackstone, for one — accused the two owners, Feil Organization and Rosen Equities, of defaulting on a $9 million loan after not making payments since February 2024, Crain's reported.
Find out what's happening in Upper East Sidefor free with the latest updates from Patch.
This could leave the owners at risk of losing the property to a court-ordered foreclosure auction, Crain's reported.
The two firms did not immediately return Patch's requests for comment.
Find out what's happening in Upper East Sidefor free with the latest updates from Patch.
To read the original story in Crain's New York Business by C.J. Hughes, click here.
For questions and tips, email Miranda.Levingston@Patch.com.
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