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Early evening in Tompkins Square Park... see you next month!
Toledano’s Brookhill Properties acquired the 39-unit, 39,000-square-foot property for $41.5 million in 2015. At the time of the purchase, the firm secured $34 million in financing from Madison, including $29.8 million in immediate funds to buy the building. The remainder, to be provided at a later date, was allocated for proposed renovations.
Madison, in its capacity as the lender, filed the summons filed Monday in New York State Supreme Court, to initiate foreclosure proceedings over the building, which has $29.8 million loan.
A photo posted by Streechašŗš¦Ukrainian kitchen NY (@streecha) on
A photo posted by Streechašŗš¦Ukrainian kitchen NY (@streecha) on
A photo posted by Streechašŗš¦Ukrainian kitchen NY (@streecha) on
A photo posted by Streechašŗš¦Ukrainian kitchen NY (@streecha) on
A photo posted by Streechašŗš¦Ukrainian kitchen NY (@streecha) on
We opened 2 days after NY State Department of Taxation and Finance shut us down. We've paid the principal amount months back, it is the interest and other fees that we're trying to negotiate down. 120% interest is a lot.
Having said that, earlier this month we chose to close down East 12th Osteria because we found a bigger location in the West Village, and will be opening sometime in the summer.
East 12th attracted regulars Ron Chernow... Preet Bhararra and Scott Stringer, lots of NYU faculty and gallery owners. We thank our supporters in the East Village — a warm welcome awaits them at our next Osteria, opening soon just a few avenues away.