Some of those ideas range from an indoor/outdoor recreational center to aircraft-related uses to distribution facilities to museum and convention center space. PincusCo first reported the sale of the senior loan. Ebersole said she was a project manager in the production control department. 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. Brentwoods other Richmond-area holdings include the 219-unit Canterbury Square Apartments in Henrico and the 218-unit Ashland Towne Square apartments in Hanover. If you'd like to submit an event to be added to our community calendar, use our special form for submitting events. According to online property records, First Flight Unit 2 Limited Partnership of Chantilly, Va., sold that part of the property in June through a deed in lieu of foreclosure to Topflight Owner LLC for $12,284,636. Eli Tabak and Marc Mendelsohn, founding partners at The Bluestone Group, are confident that Mr. Terrasi is a great fit. Its a 60s-vintage, beautiful property, and it has been really outdated, Zolty said Monday. Earlier this year, Eli Tabak's Bluestone Group issued the ownership group a $6 million mezzanine loan, which it defaulted on. [15], The angular facade is composed of pleated stainless steel and glass and was conceived to give the building "an ever-changing appearance that arouses curiosity yet never quite reveals its content." Space is for lease in that structure. Real Estate. San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. FONT SIZE. The Naturalist Group is a full service design/build landscape firm. Seems like a lot of the same folks, on the one hand, say, We dont want this or that. Or Richmond doesnt need this or that Yada yada. (To learn more about contributing, click here.). The citys record of the transaction, however, puts the price Bluestone paid for a stake in the Scores building at close to $3 million. The new facilities would allow MSUs art museum to offer educational opportunities and programming such as lectures by visiting scholars, curators, artists and faculty; seminars, docent training; and special activities for families and school groups. Eli Tabak did not respond to requests for comment. We are recognized as a 501(c)(3) nonprofit by the IRS, so financial donations are tax-deductible. History. Jonathan joined BizSense in early 2015 after a decade of reporting in Wilmington, N.C., and at the Henrico County Leader. Meanwhile, Bluestone and Brentwood have further upped their investment in the Richmond market with their purchase of a downtown apartment building. The Bluestone Group's Eli Tabak and 90-02 Queens Boulevard (Credit: Eli Tabak) May 10, 2019, 12:45 PM. BizSense reporter Mike Platania contributed to this report. The Bluestone Group and Bluestone Capital LLC & Principal at Bluestone Capital LLC 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". At their June 15 meeting, the MSU Board of Trustees approved the construction of the museum with initial plans to demolish the building then in the proposed location . Update: This story has been updated with a comment from David Goldwasser, and to reflect that Rubin Equities is also an owner in 85 Flatbush Avenue Extension. Eli Tabak and Marc Mendelsohn of The Bluestone Group attended Tuesday's event. We do not take donations from individuals seated on or running for East Lansing City Council or East Lansing Public Schools Board of Trustees. Eli Tabak has been working as a Chief Executive Officer at The Bluestone Group for 16 years. 2023 www.heraldmailmedia.com. Eli Tabak's email address is e**@bluestonegrp.com. The firm paid $8.2 million in an off-market deal for the 12-story, 57-unit building, which Tabak said Brentwood will manage. You can always talk to sales if youre interested in advanced plans. [17], The museum also includes an educational facility, a works on paper study center, administration offices, a caf and a shop; as well as a pedestrian plaza and a sculpture garden.[16]. Bloomberg first reported both bankruptcies. Fairchild once employed thousands, and the company ranked as the largest employer in Washington County. ELi may consider donations to support the coverage of particular subject areas or topics, but our organization maintains editorial control of the coverage. San Francisco Bay Area, Silicon Valley), Total number of current Jobs the person has, CB Rank (Hub): Algorithmic rank assigned to the top 100,000 most active Hubs. According to its website, Bluestone, a private investment firm, "specializes in taking advantage of value-add scenarios such as under-managed properties, developing markets and distressed assets.". There are 5 professionals named "Eli Tabak", who use LinkedIn to exchange information, ideas, and opportunities. Our team is dedicated to professionalism, excellence and the highest of ethical standards. Frequently Asked Questions about Eli Tabak. ELi provides free, local, non-partisan, accurate news and information about East Lansing, including reports on our local public schools, clubs, businesses, economic and governmental activities, arts events, and so forth. learn about our conflict of interest policies. A. Officials at the brokerage declined to comment on the details of the financing, or to identify the borrower. The new owners are Bluestone Group, a New York-based commercial real estate investment firm, and frequent collaborator Brentwood Investment Group, based in New Jersey. Bluestone, Altmark nab Bronx factory. We like to gravitate towards markets that are on their way up, rather than markets that have either plateaued or are heading elsewhere. 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). 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. 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. Langer, of The Langer Co., is part of a new ownership group looking to bring new uses to the complex. The four multistory buildings at 1717 Bellevue Ave., beside Interstate 95 across from Bryan Park, are being rebranded as Legacy at Imperial Village, which Brentwood partner Barry Zolty described as an updated version of the 1960s-era facility that he said will cater to todays 55-and-up demographic. The Bluestone Group Location 1130 Route 202 South Bldg D7, Raritan, New Jersey, 08869, United States Description Read More Industry With several Fairchild Aircraft airplanes behind him, Michael Langer said the company's old factory could see a bright future. Several days later, a bankruptcy plea was entered for a development site at 159 Broadway in Williamsburg, where foundation work for a 26-story tower had begun just before it was slated to go to auction Monday. About 60 people attended the open house and ribbon-cutting ceremony in what was once a Fairchild hangar. A multimillion-dollar updating of one of Richmonds longest-running senior living communities is in the works following a $75 million purchase last week. Both our online contact system and our post office box can be used to submit story ideas, request corrections, report website problems, and so on. During the pandemic lockdown, when travel came to a halt, Cornell Realty briefly rented out the hotel as a homeless shelter, and then reopened the hotel in July at reduced capacity. Its very historic to Richmond, its been there since the 60s. We add conflict of interest disclosures to articles where there might be a perceived financial conflict of interest, and if a perceived financial conflict of interest might cause doubt about our legitimacy, we will not publish an article that involves such a conflict. (Zaha Hadid Architects). A call to the firm was not returned Monday. But the limited revenue was not enough to cover its debt obligations, per the bankruptcy filing. Bluestones quest for leverage over Gans culminated last week, according to court documents, when it bought the senior loan on his portfolio for $148 million. FOR ASSISTANCE WITH YOUR MEMEBERSHIP PLEASE EMAIL [emailprotected]. The American Heritage Apartments building at the corner of East Main and South 10th streets downtown. Click here to see your options, all of them free. We are glad you asked, because without donations from readers like you, we can't do this work for you! Unless a donor specifically requests to be anonymous and donates less than $500 per year, his or her name will belisted on our sponsors page. Imperial Plaza, a gated complex totaling hundreds of units in the citys Northside, is being renamed and reimagined as a so-called active adult community after its sale Thursday to an out-of-town joint venture. Bluestone Group borrows $50M from Madison Realty Capital for property in Elmhurst January 10, 2020 6:53 am Eli Tabak's Bluestone Group through the entity 90-02 QB Holdings LLC as borrower signed a loan To read an article sign up for a 7-day free trial to a Post subscription, just $10 per month. 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. Ironclad Coffee comes in for a landing at RIC, Bookbinders owners open mac-and-cheese joint on Arthur Ashe Boulevard, UR-born snack company to roll out tweaked trail mix after capital raise, MLB-required upgrades to The Diamond could cost city $3.5M. Bluestones leverage over Gans began with a $17 million mezzanine loan originated as part of the Mack-led refinancing in 2018, but the Tabak familys strategy to seize Gans portfolio kicked off later, he claims, when Bluestone called in a separate $5 million preferred equity agreement at a time when the pandemic had cut off Scores revenue. There since the 60s to submit an event to be added to our community calendar use... Subject areas or topics, but our Organization maintains editorial control of the senior loan submit an event be... A downtown apartment building an event to be added to our community calendar, use special... Terrasi is a great fit the highest of ethical standards to cover its debt,. Is in the works following a $ 75 million purchase last week new ownership Group looking bring. For East Lansing City Council or East Lansing Public Schools Board of Trustees once thousands. 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