Wednesday, November 8, 2017

Report: Judge dismisses Raphael Toledano suit over 97 2nd Ave.

During a hearing on Monday, a federal judge tossed a bankruptcy case filed by Raphael "I will bury you" Toledano, ending his bid to stop the sale of 97 Second Ave. to Michael Shah’s Delshah Capital, The Real Deal reports.

Both landlords were claiming ownership of the 11-unit building between Fifth Street and Sixth Street. It's a little complicated. Read the Real Deal piece here for the full blow by blow.

According to the documents filed by Shah, Toledano allegedly told him, "I will bury you, literally. I will bury this building and make sure of it."

The 6-story building was one of the first East Village properties purchased by Toledano. Public records show that Toledano paid $4.95 million for it in April 2014.

Toledano reportedly lost control of the property when he defaulted on a $2 million loan.

Previously on EV Grieve:
Claim: Landlord of 444 E. 13th St. threatened 'to drop dynamite on the building'

Report: Threats made in ongoing battle over 97 2nd Ave.

11 comments:

Donnie Moder said...

Tolerano has a mental illness that unfortunately manifests itself in questionable real estate deals and horrendous harassment of tenants. Perhaps a bit of Napoleon complex and Trump/Kushner envy thrown in to boot. He will never stop, he will never be humble, he will never be cured.

Anonymous said...

Here comes a bar/restaurant owned by delshaw on the ground floor. Delshah does that at all their properties

Anonymous said...

I am worth a literal fuck-ton of money, bro

Anonymous said...

It already has a bar/restaurant - a Chinese hot pot type restaurant. Maybe now this building will finish the interior renovations, get rid of the remaining tenants and create more outrageously priced units which will be unaffordable to anyone making less than $1million a year.

Giovanni said...

What part of “bankruptcy” does Rafi Toledano not understand? He has defaulted on his loans, filed for bankruptcy and is even being evicted from his rented apartment. If he’s a real estate genius then it’s much better to be a real estate idiot. The note on the building was sold, Rafi knows he had no say over ownership since he was the one who defaulted on it, end of story. Yet the Smirking Smurf still acted like he had some kind of leverage in the deal, but too bad, once again he was dealing with people who actually understand how real estate works, as opposed to someone who doesnt have a clue, like himself. I’m starting to think that maybe real estate wasn't his calling after all.

Anonymous said...

Real estate in NYC is a dirty little business. Perhaps Toledano has llc go bannkrupt, not personally go bankrupt, that is loke a Trump move. Who knows what Tolerant I's able to pocket or hide.

Anonymous said...

Oh please, Toledano is finished. He said he would never sell the building he was living in because it was for his family, now he’s being evicted from a rented apartment. It’s a joke, this guy was living on borrowed money and borrowed time, but then he couldn’t push out all those rent stabilized tenants fast enough in order to pay off his mortgages. His greedy little scam is over, and the people who loaned him the money were counting on him going belly up so they could swoop in and take away all the properties. That’s the real story here, how Toledano was just a stooge used by the lenders to get thier hands on his deal. It’s called vulture capital, and Rafi is the carcass.

Anonymous said...

Wow, was he actually threatening to kill the other guy or possibly demolish the building in one way or another? How is that not criminal?

Anonymous said...

If only Bernie hadn't been cheated: we need to get the 1% in check in this country. They're soulless greedy animals.

Anonymous said...

I truly don't understand why Toledano is not in jail.

But he sure does deserve every shitty setback he encounters!

Anonymous said...

I would gladly pay for a documentary showing the downfall of that Toledano scum.