[5] Marc-Olivier Wahler was named the director on March 9, 2016.[6]. Rosewood and Bluestone declined to comment. He said a restaurant and dining hall also are planned to replace the communitys current meal plan model. 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 . Rosewood Realty Group was hired to oversee the virtual UCC auction for both properties, according to the marketing material reviewed by CO, with Aaron Jungreis, Greg Corbin, Aaron Kline, Brandon Serota, Chaya Milworn and Elliot Haft making up the team. The citys record of the transaction, however, puts the price Bluestone paid for a stake in the Scores building at close to $3 million. Imperial Plazas entrance off Bellevue Avenue. Total number of Crunchbase contacts associated with this organization, Total number of organizations similar to the given organization, Descriptive keyword for an Organization (e.g. Bluestone specializes in taking advantage of value-add scenarios such as under-managed properties, developing markets and distressed assets. Private investor Robert Gans has closed a $148 million refinance for six redevelopment sites totaling more than 1 million square feet in Manhattan and Queens, Commercial Observer has learned. Construction on the museum began March 16, 2010, at a groundbreaking ceremony attended by Eli Broad and Zaha Hadid. What makes ELi different from other local news organizations? 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. Two days before the Imperial Plaza closing, the firms purchased the American Heritage Apartments building at 1001 E. Main St. Zoning permits a variety of uses across the portfolio financed, diversifying its potential redevelopment opportunities, sources said. Update my browser now. Then they turn around and pontificate on how the city is supposedly dying how people are supposedly leaving the city in droves when quite the opposite is true Richmond has been enjoying double-digit populationRead more , Actually no on growth figure. (Zaha Hadid Architects). Eli Tabak's email address is e**@bluestonegrp.com. We retain full authority over what we publish, and we take very seriously our duty to the community to provide accurate, nonpartisan, factual news. Ross Sanders with Newmark brokered the deal for seller Dominion Partners, an Alabama-based firm that had owned Imperial Plaza since 2001, according to city property records. The former hangar and factory areas have been rechristened New Heights Industrial Park. Real Estate. The firm paid $8.2 million in an off-market deal for the 12-story, 57-unit building, which Tabak said Brentwood will manage. In January it originated a $109 million bridge loan for Hong Kong Supermarket owner Jeffrey Wu's building at 41-60 Main Street in Flushing, Queens, as reported by The Real Deal. [14], Barton Malow provided construction management services, using atypical building techniques to ensure constructibility given the unique design. Eli Tabak and Marc Mendelsohn of The Bluestone Group attended Tuesday's event. Eli Tabak - Founding Partner @ Bluestone Group - Crunchbase Person Profile Person Eli Tabak Summary Overview Number of Founded Organizations 1 CB Rank (Person) 1,262,875 Primary Job Title Founding Partner Primary Organization Bluestone Group Location New York, United States, North America Regions East Coast, Northeastern US Gender Female Your California Privacy Rights / Privacy Policy. Imperial Plaza is long overdue for an overhaul, and that includes management particularly in Assisted Living. Bluestone Capital, led by co-founders Eli Tabak and Marc Mendelsohn, has been aggressively expanding its bridge lending platform lately. (Jonathan Spiers photo). . The Bluestone Group is a private investment firm that specializes in real estate market and property management services. A A A. The foundation for the structure is now complete and ready for construction, according to an offering memo obtained by Commercial Observer. Bluestone initiated the UCC foreclosure process in both cases in September after Hager defaulted on interest payments. On June 1, 2007, Michigan State received a $28 million donation from businessman Eli Broad and his wife, Edythe, for the construction of a new art museum, to replace the old Kresge Art Museum in the school's art building. Headquarters Regions Greater New York Area, East Coast, Northeastern US. It was owned by a few larger, more healthcare-type owners," Tabak said. Over the course of his career he has successfully originated in excess of $1 Billion in commercial mortgages, as well as the disposition and workout of $150 + million of non accrual loans. 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. One part includes a two-story, 119,166-square-foot office building. There is no recent news or activity for this profile. [16] Seventy percent of the 46,000 square feet (4,300m2) is dedicated to exhibition space. In keeping with the standards of the Institute for Nonprofit News, of which we are a proud member, our organization make public which donors give a total of $5,000 or more per year on our Sponsors page. Bloomberg, is the mezzanine lender on both properties, with $6 million on the hotel property and $3.5 million on the development site. The mailing address of Topflight Owner LLC is listed in care of The Bluestone Group of New York. Bluestone Capital, led by co-founders Eli Tabak and Marc Mendelsohn, has been aggressively expanding its bridge lending platform lately. and encourages audience members to consider participating in ELi as editors and reporters. The second property, where Hager planned to build a 26-story, mixed-use tower with a 275-key hotel, was also purchased in 2019 with MRC as the senior lender. The seller was Time Equities, a New York-based firm that bought the building in 2015 from locally based Genesis Properties. Read the latest edition of the Commercial Observer online! Well said, Bruce! Eli Tabak has been working as a Chief Executive Officer at The Bluestone Group for 16 years. ELi (East Lansing Info) is unaffiliated with local government, is non-profit, and is overseen by a volunteer Board of Directors. The remaining two sites are located in the Astoria and Jamaica neighborhoods of Queens. Eli Tabak's Bluestone Group is the mezzanine lender on both properties, with $6 million on the hotel property and $3.5 million on the development site. Those machines served as the backdrop for the event. negotiated the three-year bridge loan, which features a rate of 650 basis points over LIBOR. PincusCo first reported the sale of the senior loan. Eli Tabak and Marc Mendelsohn, founding partners at The Bluestone Group, are confident that Mr. Terrasi is a great fit. Zolty said they will be moving quickly on the upgrades, which he said theyll be communicating to residents in more detail later this week. The complex was built in 1967. Sharon perhaps you know by now the intention of new management at IP. Click here to help us out. In an effort to promote community news sharing and to focus especially on East Lansing, ELi confines itself to local news and information (you won't find any editorializing at ELi!) This change has not been communicated very well to the residents. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. Greystone sells Lantana apartments to real estate mogul for $10M, Hialeah Gardens industrial site trades at $1M/acre, as market softens, Related Group allegedly jilted investors in waterfront West Palm resi project: lawsuit, Massive waterfront Southampton estate heads to auction block, Pasadena moves to eliminate planned development zoning, CF Industries relocates suburban HQ to Northbrook with slight downsize, LaSalle sells OC office building at 55% loss. Read the latest edition of the Commercial Observer online! 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. EACH MEMBERSHIP WILL ONLY FUNCTION ON UP TO 3 MACHINES. The complex was built in 1967 and has not been substantially renovated in decades, said Eli Tabak, CEO of Bluestone Group. [2][3], On June 1, 2007, Michigan State received a $28 million donation from businessman Eli Broad and his wife, Edythe, for the construction of a new art museum, to replace the old Kresge Art Museum in the school's art building. Bluestone has been very active in the pursuit of NPL's in the New York tri-state area, closing in excess of $300,000,000 in transactions in the past year. Most recently a Vice President at Dime Savings Bank of Williamsburg, Mr. Terrasi will serve as Bluestone Group's Chief Operating Officer. Bluestone continues to seek opportunities in the distressed debt and REO arena as well as traditional commercial real estate opportunities. [4] The five finalists[8] were: The selection committee announced on January 15, 2008, that Zaha Hadid had been selected. Bluestone, Altmark nab Bronx factory. Frequently Asked Questions about Eli Tabak. 2023 Richmond BizSense - All Rights Reserved, Update your browser to view this website correctly. has closed a $148 million refinance for six redevelopment sites totaling more than 1 million square feet in Manhattan and Queens, Commercial Observer has learned. 1433 West Loop South-Houston. Theres good news about Richmonds future all over this edition of BizSense. We are recognized as a 501(c)(3) nonprofit by the IRS, so financial donations are tax-deductible. Toggle Fullscreen 1/10 Buck Ennis Martha. Eli Tabak's colleagues are John Kim, Aaron Armston, Muttalib Khan, Bob Balseiro and more. [7] From the list of semifinalists, five architectural firms were selected to submit competition proposals. An earlier version incorrectly referred to one of the firms as a sole owner. We will accept anonymous donations for general support only if it is clear that sufficient safeguards have been put into place that the expenditure of that donation is made independently by our organization and in compliance with INN's Membership Standards. Eddie Small; Save article. 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 works in the Staffing & Recruiting industry. If you'd like to submit an event to be added to our community calendar, use our special form for submitting events. 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. Contact Email info@bluestonegrp.com. Robert Gans legal salvo follows purchase of senior debt on his portfolio by Eli Tabaks Bluestone Group, Robert Gans, 533 West 27th Street and Eli Tabak (Robert's Steakhouse, Google Maps). San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. ALL MEMBERSHIPS RENEW AUTOMATICALLY. 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. In January it originated a $109 million bridge loan for, Armada Merges With Data Analytics Firm Arialago to Target REIT Research. Active, Closed, Whether an Organization is for profit or non-profit, General contact email for the organization. A joint venture between Eli Tabak's Bluestone Group and the Altmark Group has purchased a 235,584-square-foot industrial factory building in the Bronx for $44 million, sources told The Real Deal. ELi treats all reporters equally regardless of age, educational background, or professional status. The American Heritage Apartments building at the corner of East Main and South 10th streets downtown. Project Coordinator - Executive Recruiter, Find verified emails and direct dial mobile numbers of contacts on LinkedIn, and sync them with your CRM instantly. About 60 people attended the open house and ribbon-cutting ceremony in what was once a Fairchild hangar. Some of the other speakers Tuesday were John Seburn, president of the Hagerstown Aviation Museum, and Pam Ebersole, a former Fairchild employee. Click here to see your options, all of them free. 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