Joe Levin and T.O.T. Consulting Services Wishes Everyone A Beautiful And Kosher Pesach

T.O.T. Consulting Services We would like to wish our thousands of readers and supporters, a Chag Kasher V’Sameach a joyous Yom Tov, to you,and your entire family.

Gutten Erev Shabbos!

Joe Levin

T.O.T. Private Consulting

What Makes Us Unique?

T.O.T. Private Consulting provides individualized services for the Orthodox Jewish communities worldwide. We are a team of experts who are committed to providing you with the highest quality service in complete confidentiality.

Cutting-Edge Analytical Skills

Cutting-edge analytical and research skills are at the heart of every solid intelligence project that T.O.T.Private Consulting team uses creative and inventive thinking to connect the dots.

Harvesting In The Cyber World

T.O.T. Private Consulting has developed innovative tools and methodologies to handle massive amounts of data. We unearth useful information for our clients and map all potential sources of interest by trawling the deep web and harvesting information from typically inaccessible areas of the Internet such as the Dark Net.

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T.O.T. Private Consulting provides top services to the Orthodox Jewish community worldwide. With its multi-lingual background, including more than 25 native speakers of different languages, and a unique understanding of many local cultures, the team is uniquely skilled to operate in Europe, the Middle East, the Former Soviet Union, Latin America and many other regions, while handling various cultural challenges.

Extensive Database Access

We have unique experience accessing and analyzing information on various platforms, including more than 240 limited-access financial, commercial, regulatory, legal and technical databases, gaining lawful access to new resources in accordance with our clients’ needs.

Pro-Active Approach

We overcome limited-access sources by taking a can-do, dynamic approach. We have developed several unique methods, especially in the social engineering field, that allow us to move freely in and extract valuable information from limited access sources, both in virtual and physical environments.

T.O.T. PRIVATE CONSULTING SERVICES

Before you give up we can be your answer. Having a situation with the ultra-orthodox community, Chasidic sects, modern and unaffiliated Jews worldwide? Give us a visit at www.totpi.com.

T.O.T. Private Consulting Competitive Intelligence

T.O.T. Private Consulting specializes in gathering and analysing intelligence that enables our clients to better understand their business environment, enhance their ability to identify business risks and opportunities, and leverage their competitive edge.

Our competitive intelligence service is based on cutting-edge methodology that includes high-end information gathering and research capabilities, bolstered by solid technical and legal acuity.

Competitive intelligence is delivered in the form of a graphic plot of the key players in the target market, accompanied by detailed information on each competitor’s procedures, practices, R&D plans, products and services, and unrevealed usable leverage points of conflicts, corruption, fraud or bribery.

Generating Business Opportunities

Any business that wishes to develop and grow requires a steady stream of information on potential markets and opportunities.

T.O.T. Private Consulting offers thorough and comprehensive market research and analysis services that offer insights to companies looking to expand and grow.

At T.O.T. Private Consulting, we are uniquely capable of operating in any language and culture, in our home markets and specifically in Europe, the Middle-East, Former Soviet Union and Latin American markets.

Additionally, we are able to provide in-depth information and analysis regardless of geographic boundaries.

T.O.T. Private Consulting identifies potential unique business opportunities, locates key players and centers of excellence, and creates detailed target profiles that assist our clients in executing well-informed business moves.

Compliance Reports

T.O.T. Private Consulting produces compliance reports on potential business partners, suppliers, distributors, and re-sellers (individuals and companies), supporting clients’ compliance efforts in accordance with the requirements of the Bribery Act, Fraud Act, Proceeds of Crime Act, and other relevant legislation.

We help our clients ensure full compliance with these laws by inspecting the both legal and financial records and procedures of designated partners, in order to confirm their compliance with the requirements defined in relevant legislation, such as due-diligence reporting and risk assessment procedures.

Looking into 240 unique databases, our compliance services identify involvement of existing and potential business associates in sanctions violations, money laundering incidents, terror financing and any organized crime involvement.

Deep Level Due Diligence

Decisions involving significant business moves, large-scale acquisitions, new partnerships, and expanding operations into new, and foreign, countries inevitably involve trade-offs between risks and benefits. T.O.T. Private Consulting Deep-Level Due Diligence service supports clients’ risk management and helps minimize such business risks by providing comprehensive assessments of business targets.

A distinct tool to financial and legal due diligence, T.O.T. Private Consulting Deep-Level Due Diligence delves into the people behind the target company; their motives and interests, past behavior in other roles, and any other information that could reveal behavior contrary to the strategy of T.O.T. Private Consulting clients.

T.O.T. PRIVATE CONSULTING SERVICES, SERVING THE JEWISH ORTHODOX COMMUNITY WORLDWIDE

T.O.T. Private Consulting specializes in a variety of services for the Orthodox Jewish community worldwide.

One of our primary services is litigation and conflict support. We apply the full scope of our intelligence, information collection, analysis and operational skills to assist our clients in promoting their business and legal interests. We help our clients adopt a pro-active approach to litigation and conflict resolution by providing intelligence that can be later used as evidence in court, while conducting closed room negotiations or as a pressure point with any other third party or authority. Information of this type critically affects the strategy and advice that our clients receive from their lawyers and other advisers.

Analysis of Interests and Conflicts

Understanding your opponent is a key element when building a strategy for a complex situation. T.O.T. Private Consulting supports litigation processes by identifying your opponents’ vulnerabilities, interests, priorities and strategy. Using our unique intelligence methodology T.O.T. Private Consulting enhances its clients’ decision making by providing otherwise unobtainable information. We help our clients identify their adversaries’ sensitive pressure points or vulnerabilities, or evidence of their misconduct.

Asset Tracing and Enforcement Support

Grounded in T.O.T. Private Consulting in-depth familiarity with relevant legislation and court procedures related to asset recovery; our asset tracing and enforcement support services produce valuable intelligence and due-diligence at a standard far beyond other, currently available, services. T.O.T. Private Consulting has developed unique expertise as asset recovery practitioners, and we can function in different jurisdictions under different legal systems, extending all the way to analyzing offshore companies and trusts.

Evidence Collection and Analysis

We offer active involvement in our clients’ efforts to establish the evidential foundation of their cases. Using unique collection skills, we work together with our clients’ legal teams, providing them with relevant materials and reports on specific areas of interest to help the legal team promote our clients’ interests. Evidence collection also includes identifying and locating potential witnesses, and assistance in assessing the strength of adversaries’ evidence and asset structure.

Identifying Pressure Points and Developing Leverage

Drawing on our experience of fraud investigation and analyzing complex (often offshore) company structures, T.O.T. Private Consulting identify instances of criminality in our clients’ counterparties’ operations, such as VAT fraud, involvement with organized crime or sanctions violations. We then work closely with our clients in order to ensure that the information is used to maximum effect, be it by appealing to regulatory authorities, or by bringing criminal or civil actions in cases such as fraud, bribery or terror financing.

T.O.T. PRIVATE CONSULTING SERVICES, SERVING THE JEWISH ORTHODOX COMMUNITY WORLDWIDE

Lawsuit Claims 58-Story Condo Tower in Manhattan Has 3 Inch Tilt

A Manhattan civil suit claims that a newly constructed 58-story condominium tower in Manhattan’s Financial District has a three-inch tilt as a result of a skewed foundation — a defect that could cause bits of the tower to fall to the street, according to claims.

The alleged tilt of the tower at 161 Maiden Lane was caused by cost-cutting measures on the part of the developer, Fortis Property Group, claims the lawsuit, filed by project contractor Pizzarotti.

According to a story in the New York Post, “Fortis allegedly opted not to drive piles into the soft ground of the site by South Street Seaport on the East River before it laid the foundation, saving them $6 million, the suit alleges. “The building structure has settled and moved to such a degree that the structure is encroaching on a neighboring property line,” according to the papers filed last month in Manhattan Supreme Court. The lean on the 670-foot-tower could cause windows to plummet, the suit claims.”

A structural-engineering expert reportedly told the newspaper that the lean “could also cause doors to open randomly, leaks or uneven floors. All of this will only get worse as the weight of the building — which is currently unoccupied and under construction — increases when water, tanks and fixtures are added, the documents claim.”

The story adds, “Pizzarotti wants to break their contract with the developer, arguing it’s unsafe for workers or future residents to step inside. But Fortis argues this is just a last-ditch attempt by Pizzarotti to pass off blame for their own shoddy work.”

Pizzarotti’s web site (pizzarotti-usa.com) describes the building this way: “New construction of the first all-glass residential tower on the waterfront in the Historic Seaport District in Manhattan. Rising 670 feet, the tower will accommodate 99 luxury apartment and amenities. Overall the construction site is very tight, approximately 4,200 square feet. The site is built on landfill over the original piers along the East River. The curtain wall system is a custom engineered, prototypical design providing maximum glazing heights with narrow site line framing.

“The construction of the foundation would have required extensive dewatering and deep piles, due to its proximity to the East River. Instead, the Owner opted for a foundation design of soilcrete and piles, whereas the subgrade was injected with formulated grout to a depth of 30’- 50’. Perimeter piles were formed/poured to a depth 50’ to create a bathtub to minimize groundwater flow. The top 12’ of soilcreted grade was excavated to enable the pouring of the 12’ thick foundation mat slab. Specific perimeter piles have embedded steel rods which will tie into the mat slab, and post-tensioned when the superstructure height reaches 48 floors. The foundation also contains (4) steel rods, anchored into bedrock, at a depth of approximately 200’. These rods are surveyed monthly to measure calculated settlement of the soilcreted subbase, and building structure as a unit.”

Fortis Property Group 58-Story NYC Skyscraper That's Leaning 3 Inches To One Side

An unfinished 58-story skyscraper in New York City is tilting 3 inches to the north.

The tower's contractor is suing the developer, saying it allowed for the tower to be built on a shoddy foundation.

The developer says there's no safety issue and that the "misalignment" can actually be fixed.

I went to see the leaning tower for myself, and I couldn't tell that it was tilted.

Visit BusinessInsider.com for more stories.

A New York City skyscraper that's leaning to one side has sparked a legal dispute between the building's contractor and the developer.

The 58-story tower, known as One Seaport or 161 Maiden Lane, is tilting three inches to the north, Business Insider's Aria Bendix previously reported.

The contractor of the building, Pizzarotti, sued the tower's developer on March 22 after a subcontractor discovered the building was askew. Pizzarotti alleges that the developer allowed for the tower to be built on a shoddy foundation. 

The developer, Fortis Property Group, says Pizzarotti filed the suit to distract from its inability to complete the project.

Fortis also says there's no safety issue and that the "misalignment" can actually be fixed.

I went to go look at the 670-foot tower — here's what it looked like.

De Blasio’s Latest Sleazy Deal For Well-Connected Landlords

Just when you think Mayor de Blasio’s sleaze can’t get sleazier, it does. His latest real-estate scandal involves the city’s purchase of substandard housing from politically connected slumlords at well above market value. Corruption aside, this deal is terrible policy, ensuring that New York will spend even more money than the billions it forks over each year on its homeless problem.

Lest you think Hizzoner didn’t learn his lesson from previous scandals, he has. In his first term, he didn’t pay a price for his massive giveaway to a downtown condo developer, or for trying to kill the horse-carriage industry at the behest of property owners.

So in his lame-duck phase, he’s ratcheting up: City Hall is handing over $174 million to companies controlled by brothers Jay and Stuart Podolsky to purchase 729 apartments in 21 buildings across Brooklyn and The Bronx.

The buildings mostly serve as “cluster sites” for homeless families; the city wants to convert them into long-term affordable housing, run by nonprofits, for formerly homeless New Yorkers. Blas donor Frank Carone represents the sellers.

And a good deal Carone helped make: The purchase price is $30 million over the appraised value.

The city insists the price is “consistent with the current median price for a rent-stabilized apartment.” But many of these buildings are in disrepair, having been subject to neglect and hard use for years. They require tens of millions in gut reconstruction — to be financed by taxpayers.

Because the deal is a purchase and not a contract, it underwent no checks and balances from the city comptroller. Scott Stringer has subpoenaed documents, noting that “the explanations provided . . . raise more questions than answers.”

Indeed. To be sure, the goal is fine: Convert expensive homeless-shelter apartments into long-term apartments. But there are far better ways to do that.

First, the city could have pursued eminent domain. Homeless-services chief Steven Banks has told the comptroller’s office that it didn’t use this strategy, ­because a court might rule for a higher valuation.

Maybe, but not certain. Why not find out? The city is essentially saying it is embracing a risk — paying above-market prices — in order to avoid that risk.

That aside, the city has other options. Consider: The city pays rent to the Podolsky buildings on behalf of homeless tenants — $50 million over five years, nearly $2,000 on each monthly apartment rent.

Two years ago, after a radiator explosion in a similar cluster-site apartment killed two children, the city severed agreements with that provider, which it said was “noncompliant” with city codes.

Virtually all city contracts give the city authority to terminate for cause — and failure to live up to building standards is cause. A Post report found last week that the Podolsky buildings have more than 400 open violations, including dozens of “immediately hazardous” violations.

A hardball tactic would cite contract default, revoking the spigot of easy money.

What would the Podolskys do with 21 empty buildings? Rehab, or sell — but either way, they’ll end up on the housing market. Middle-class and working-class housing in older, smaller buildings is affordable housing.

Indeed, one of the absurdities of the city’s cluster-site homeless shelters — an ill-considered program that goes back to the Giuliani administration — is that owners sometimes harass paying long-term tenants to get them to leave. That way, the owners can win the city’s more lucrative homeless-shelter revenue.

So the city helps create the homeless problem it is trying to fix in the first place.

The city is supposedly afraid, too, that if it leaves the Podolsky buildings empty, the brothers will try to remove their units from rent regulations. But the threshold for deregulation is $2,700 — well above market rate in these neighborhoods.

But what if the Podolskys — or new owners — don’t keep the new apartments up to code? There’s an answer to that, too: City housing officials can do everything from levy fines to, in extreme cases, seizing a building’s management and rents.

Bottom line: There should be no payoff for owners whose business model is to neglect homeless tenants’ apartments as they rake in taxpayer cash, let alone a ­bizarre one-time windfall.

De Blasio has two years left to use this deal as a template, not an aberration. “I hope there will be more such deals,” Legal Aid Society attorney Judith Goldiner told Curbed New York. So do dozens of other cluster-site owners.

YOU HAVE A SITUATION. WE HAVE THE SOLUTION.

The effective tendency these days is to analyze and assess occurrences in
business, partnerships, investments, individuals and other situations.

Understandably, it is vital to execute thorough background checks before a
relationship gets serious to avoid aggravation later on.

For the past decade, Joe Levin at T.O.T. Consulting Services has successfully
counseled many companies nationwide, ensuring honesty and reliability.

This pre-screening process has alleviated untold agony for so many.

In the event that you need to carry out an analysis for any purpose, we are
here to assist you. In particular, we are well-versed and familiar with the
ultra-orthodox community, Chassidic Sects, modern and unaffiliated Jews.

We have extensive knowledge on Jews from diversified cultures and have
the expertise necessary to scrutinize pertinent details for you to ensure
your relationship is secure.

Looking forward to hearing from you.

---

Sincerely yours,

Joe Levin

Court Lets Sponsor Off the Hook for Condo Defects

Condo boards and unit-owners have several options when they move into a new building with shoddy construction. To avoid litigation, they can hire an engineer to document construction defects, then negotiate with the sponsor to correct them. If the unit-owners are unhappy with the repairs, both sides can agree to name a so-called “designated neutral” to arbitrate their disputes. If all else fails, there’s always the last resort: litigation.

But last resorts don’t always lead to happy endings – or cheap ones. Case in point: a Brooklyn judge has ruled that Fortis Property Group is not liable for $2 million in alleged construction defects at the 62-unit Bayard Views condominium in Williamsburg, Brooklyn, the Real Deal reports.

The reason is that Fortis bought 37 unsold units in the building in 2011 from the original developer, Isaac Hager, when his company went into bankruptcy. Even though Fortis became the sponsor on the offering plan, the court ruled, the company is not liable for any construction because it didn’t build the building.

Unable to sue Hager because of bankruptcy protection, the condo board filed a complaint against Fortis in 2014, claiming the building suffered from $2 million worth of damages from leaks and flooding, an inadequate HVAC system, cracks in the facade, and a faulty electrical system.

In his ruling, Judge Lawrence Knipel did offer a consolation to the board and unit-owners at the Bayard Views: they can continue trying to sue Fortis Property Group’s principals, Joel Kestenbaum and Jonathan Landau.

Fortis’s attorney, Adam Leitman Bailey, tells Habitat, “This is an extremely important case. It takes on an issue – when you buy or take over a building from a previous sponsor, are you liable for defects caused by the person you bought it from? According to this court, the answer is no.”

Kelly Ringston, a partner at Braverman Greenspun, attorney for the condo board, says: "Fortis inspected the building, then turned a blind eye to construction defects when they sold their 37 units. Each purchase agreement contained false representations about the condition of the building. The law doesn't give you a free pass to disregard your contractual obligations simply because you acquired them in bankruptcy. We will be appealing."

Brooklyn Hospital’s Sale, Backed by de Blasio and Cuomo, Is Drawing Federal Scrutiny

Before Mayor Bill de Blasio and Gov. Andrew M. Cuomo began their bitter public feud, the two men found themselves on the same side of tense negotiations over the future of Long Island College Hospital in Cobble Hill, Brooklyn.

In the end, the leaders, both Democrats, would get what they were after: The state sold the hospital, and Mr. de Blasio could claim victory for having preserved union-backed health care at the site.

But the outcome now appears to be under federal scrutiny, the latest subject of a sprawling investigation into fund-raising and potential pay-to-play politics in New York. Federal subpoenas have been received by the health care workers union, 1199 S.E.I.U., which has supported Mr. de Blasio and Mr. Cuomo, and by the hospital’s former owner, the State University of New York.

A developer, Fortis Property Group, which had been favored by SUNY, bought the hospital, with the sale completed in 2015. Prosecutors are seeking information related to the sale and, in particular, communications between SUNY and top City Hall officials or those associated with the mayor’s nonprofit group, Campaign for One New York, about the hospital’s fate, according to the subpoena, dated July 14 and described by an official who had seen it.

The subpoena names Mr. de Blasio; Anthony E. Shorris, the first deputy mayor; four top mayoral aides; and Ross Offinger, who had been finance director of the mayor’s 2013 campaign, according to the official, who requested anonymity citing the continuing federal investigation.

On Thursday, the union also received a federal subpoena related to its own involvement in the hospital deal, according to an official there who declined to describe its contents.

The inquiry into Long Island College Hospital, known as LICH, opened a new front in an investigation of Mr. de Blasio that has already focused on fund-raising for the Campaign for One New York and by the mayor’s aides for Democrats in tight State Senate races in 2014. Mr. Cuomo’s administration, too, is the subject of federal scrutiny related to state spending on projects in Buffalo, referred to as the Buffalo Billion.

The governor’s office said it had not received a subpoena related to the deal. “This administration had no say or role in the sale of LICH but supported resolving this issue and the court fight,” said Richard Azzopardi, a spokesman for Mr. Cuomo, adding that SUNY had been “losing hundreds of millions of dollars operating the hospital.”

Casimir Pulaski, Polish Hero of the Revolutionary War, Was Most Likely Intersex, Researchers Say

City Hall said it had not gotten one either. “We will of course share whatever appropriate information is requested of us during any review of this matter,” said Eric F. Phillips, the mayor’s press secretary.

A spokesman for the Campaign for One New York declined to comment on whether it had received a subpoena.

The precise focus of the federal subpoenas related to the hospital and Mr. de Blasio’s involvement was unclear, but prosecutors’ attention to 1199 S.E.I.U. could shed light on the overlapping interests at play in the hospital’s closing and eventual sale to the developer.

The impending shutdown of the hospital brought a year of loud wrangling, with public demonstrations, overlapping court cases and the on-camera arrest of Mr. de Blasio, then the New York City public advocate and a candidate for mayor, at a protest in July 2013. The subpoena also seeks communications between SUNY and the public advocate’s office that year, the official said.

The process for deciding on the sale rested in the state’s hands. But its fate played an outsize role in city politics during the 2013 mayoral race.

Mr. de Blasio vowed to preserve the hospital and, in late July of that year, filed a lawsuit seeking to keep it open. He was joined by community groups eager to preserve the medical center, which served both the brownstones of northwest Brooklyn and the public housing blocks of Red Hook. (A judge ultimately removed Mr. de Blasio from the case, citing a lack of standing to bring the suit as public advocate.)

As late as Dec. 17, just days before taking office as mayor, Mr. de Blasio voiced his opposition to the state’s preferred plan, the Fortis Property Group’s, which on that day was withdrawn by the university’s board of trustees amid protests at their meeting.

By early 2014, however, both Albany and City Hall appeared to be pushing for Fortis, which had been a partner with NYU Langone Medical Center in operating an emergency room at the site. By that point, the parties involved were considering settling their case in State Supreme Court in Brooklyn.

Mr. de Blasio announced a settlement on Feb. 21. It included a new request for proposals for the site, with health care requirements in addition to development. Fortis joined with NYU Langone, but found itself ranked third in the bidding after the Brooklyn Health Partners and the Peebles Corporation.

The head of Peebles, Don Peebles, has said he was asked around that time to donate money to Mr. de Blasio’s political nonprofit, and said he gave $20,000 on March 6, 2014.

On March 7, 1199 S.E.I.U. contributed $250,000 to the group, according to its disclosure forms.

Mr. Cuomo, for his part, received campaign donations of $5,000 from the president of Fortis, Joel Kestenbaum, in late November 2013, and $12,500 from Mr. Kestenbaum’s uncle, Moshe Kestenbaum, in January 2014. A spokeswoman for Fortis declined to comment on whether the company had received a subpoena.

After the Peebles bid was rejected by SUNY and the judge — over a dispute regarding remediation at the site, according to those familiar with the negotiations at the time — Don Peebles asked for the money back; it was returned in July of that year, according to a spokesman for the nonprofit.

A spokeswoman for Mr. Peebles declined to say whether he had received a subpoena related to the deal, citing the “pending legal matters.”

The university, which had also found issues with the Brooklyn Health Partners bid, ultimately sold the hospital for $240 million to Fortis, which by then had the backing of the 1199 union as well.

“From our perspective, we wanted a legitimate entity to run the health care,” Helen Schaub, the union’s vice president for policy, said in an interview conducted before she was aware the union had been subpoenaed. (Officials have since declined to comment.)

An emergency room is now operating in the former hospital building, but many community members, and Mr. de Blasio’s successor as public advocate, Letitia James, have remained upset at the compromise and still favor a full-scale hospital at the site.

“At the end of the day, the interests of the community were overlooked and the process to save Long Island College Hospital was perverted,” said Ms. James, a Democrat.

Mr. de Blasio’s sudden support for Fortis, and his abandonment of his effort to keep the hospital, remains a puzzlement to some. “City Hall urged the community to support the Fortis/NYU proposal as early as February 2014,” said Jeff Strabone, a vocal community activist who was then on the board of the Cobble Hill Association.

“I was surprised at the time, given that the mayor as candidate had favored keeping the hospital open,” Mr. Strabone added. “The decision was the governor’s, but I expected more of a fight for LICH from the mayor.”

City Hall officials defended the mayor’s efforts, saying he had fought for as much health care in the deal as appeared possible to secure.

After the deal was reached, the mayor’s nonprofit group paid for a letter from a member of the Carroll Gardens Neighborhood Association to be sent around the community to soothe any remaining tensions.

“I was asked by Mayor de Blasio to share my views,” said the member, Gary Reilly, in the letter on June 26, 2014. “The outcome is much better than we expected.”

Fortis Property Group Gets $66M for NYC Condos

Fortis Property Group LLC has received a $66 million mezzanine loan from Mack Real Estate that partially recapitalizes 1 Seaport, a 60-story, 98-unit luxury condominium tower in Manhattan’s Financial District.

The loan was secured by a NKF Capital Markets team led by Co-Chairmen Dustin Stolly and Jordan Roeschlaub and assisted by Managing Director Nick Scribani. The Mack Real Estate team was led by Kevin Cullinan and Jared Horowitz. Representing Fortis as legal counsel was Eric Schoenfeld, co-chair of Tannenbaum Helpern Syracuse & Hirschtritt LLP’s Real Estate, Construction & Environmental Law group. Founded in 2005, Fortis is a privately held real estate investment and management firm based in Brooklyn that has owned and developed more than $5 billion in commercial and residential real estate.

Located at 161 Maiden Lane, 1 Seaport is also known as Seaport Residences and has sold 72 units at listing and without discounts. The anticipated sell-out of the building is expected to exceed $275 million. It has been among the fastest-selling recent projects for Douglas Elliman.

“Located in the heart of the Financial District, 1 Seaport will provide residents a dynamic living experience that few buildings in the city can match,” Stolly said in a prepared statement.

“From their condominiums, residents will enjoy stunning views that rarely become available in Manhattan,” Roeschlaub added in prepared remarks.

The property overlooks the East River and has two full amenity floors including a hydrotherapy area and a pool that spans the 30th floor. The sixth floor has fitness space and activities for adults and children.

Also in Manhattan, the NKF team of Stolly, Roeschlaub and Scribani along with Chris Kramer recently secured a $125 million loan for the refinancing of Tower 56, a Class A office building in Midtown at 126 E. 56th St., for owner Pearlmark. The tower, which has undergone an extensive capital improvement by Pearlmark, is currently 92 percent occupied.

1 Seaport isn’t the only luxury residential building making news in Manhattan’s Financial District. In September, leasing began at Twenty Broad Street, a 533-unit, luxury adaptive reuse located next to the landmark New York Stock Exchange. The 29-story building was originally constructed as an extension of the exchange in 1956.

Leaning Tower of Pizzarotti? Contractor sues Fortis over alignment issues at Seaport project

Fortis Property Group’s long-delayed Seaport condominium project has another problem on its hands – it is “leaning” three inches to the north.

Pizzarotti, the general contractor for the 58-story development at 161 Maiden Lane, says the developer is to blame, Commercial Observer reported.

In a lawsuit filed with New York County Supreme Court last month, the company alleges that foundation work done by a previous contractor, which used a cheaper “soil improvement” method to cut costs, is now causing problems with the building’s structural integrity, facade, waterproofing and elevators.

Fortis denies these allegations. “This lawsuit is patently false from start to finish and nothing more than simple defamation and a desperate attempt by a failing general contractor to divert attention from the fact it defaulted on yet another New York City project,” a Fortis spokesperson said in a statement to The Real Deal.

Though the contractor says it gave notice that it would terminate its construction contract on March 1, the developer claims Pizzarotti remained on site throughout the month of March, and that it was in fact Fortis that sent Pizzarotti a notice of termination last week, before it had even learned of the lawsuit.

“As two of the top engineering firms in the world, Arup and WSP, have certified, there are no safety issues at the building and construction can continue immediately,” the spokesperson said. “This is simply a matter of a slight redesign of the building’s curtain wall, which is already being installed by our new general contractor, Ray Builders.”

The Seaport tower was Italy-based Pizzarotti’s first luxury tower of this size in the United States, though the company is also partnering with Madison Equities on nearby 45 Broad Street.

The Seaport project has faced numerous delays, largely related to the pouring of concrete slabs for the floors, which Fortis says contributed to the alignment problems. Pizzarotti replaced the concrete subcontractor SCC Concrete last year, after a worker fell to his death from the 29th floor. Pizzarotti tapped RC Structures to take over concrete work, and that firm reported that there are “structural issues” causing the building to lean three inches to the north, according to the complaint.

Last summer, Fortis and another general contractor, ICS Builders, sued each other over a contract dispute involving the conversion of part of the Long Island College Hospital at 350 Henry Street in Cobble Hill.

I Wonder What Mendy Sharfstein Will Say

Rabbi Mendy Sharfstein

Cops arrested a 68-year-old straphanger they saw grinding up against a 20-year-old woman on a Midtown subway train, officials said Thursday.

A plainclothes cop first spotted Joseph Wilenkin, of Crown Heights, Brooklyn, on the platform at Grand Central Station, where the suspect was eyeing women up while letting a train pass about 4:50 p.m. Monday, court papers allege.

The suspicious undercover followed Wilenkin onto the next uptown No. 6 train and saw him allegedly push his groin against the woman’s backside, despite there being plenty of space behind him.

When the victim moved away, Wilenkin pushed his groin against her a second time, prosecutors claim. He then bent at the knees to stare at her face and rear end, according to court papers.

The disgusted victim dashed off the train at E. 86th St. and cops arrested Wilenkin.

“I could feel his front and side in by back,” the woman told police, sources said. “I stepped forward and he would move closer”

“When I turned around, I would see him staring at me,” the rattled woman added.

A judge ordered Wilenkin’s released without bail during a brief court appearance Thursday morning. He is charged with forcible touching and sex abuse.

$13 Million Synagogue Sale Threatened by Power Struggle of Biblical Proportions

A new lawsuit is only the latest sign of an epic power struggle within the Home of the Sages of Israel, a tiny Lower East Side synagogue. The house of worship’s nondescript and rundown building on Bialystoker Place has become the subject of a ferocious real estate battle between different factions, each claiming to be the synagogue’s lawful representative.

In a suit filed two weeks ago – only the latest in a mounting pile of litigation – members of the Orthodox Jewish synagogue’s small congregation allege that Rabbi Samuel Aschkenazi, “who despite his title, is not the rabbi for Home of the Sages,” is attempting to sell the property out from under them to real estate developer Peter Fine – and then split the $13 million profit with Friends of Mosdot Goor, a Gerer Hasidic group unconnected to the synagogue.

The plaintiffs allege that in 2014 Aschkenazi agreed to sell the synagogue property to Fine without consulting the members of the congregation, who are mainly elderly Lower East Side residents. According to the suit, Aschkenazi, the now-disputed president of Home of the Sages (there is a different “pulpit rabbi” who attends to the members’ spiritual needs), does not have legal standing to sell the property.

Peter Fine, a wheeling-dealing New York real estate developer and occasional Broadway producer, wants to buy Home of the Sages and several adjacent properties, including air rights for the unrelated Bialystoker Synagogue, so he can build housing units, according to a 2015 New York Times piece. The property Fine proposes to buy for $13 million was, according to the suit, independently appraised at $42 million, and those opposed to the sale describe the suspiciously low price as a “wholly insufficient firesale.”

Fine, who is not named in the latest suit, declined to comment. Another New York real estate player, the controversial landlord Baruch Singer, has been among those lobbying against the sale. Singer, who grew up on the Lower East Side and is the son of the former rabbi of the nearby Bialystoker Synagogue, told the Times in 2015 that his opposition to the sale was motivated by an interest in protecting the Lower East Side’s Jewish heritage.

The Home of the Sages was founded in 1939, according to Jewish Week. The synagogue is a time capsule of sorts — a relic of an earlier time when the Lower East Side was dotted with tiny storefront synagogues called shtiebels.

In a statement quoted by the Times, Fine cast doubt on Singer’s altruistic motives and suggested he was eyeing the real estate for himself. Singer could not be reached for comment in time for publication.

New York not-for-profit law requires that transactions of real estate owned by religious corporations meet two tests, according to attorney Frank Carone of Abrams Fensterman, who is representing the plaintiffs of the latest suit. “Is the transaction or sale price fair or reasonable? Does the transaction further the interests of the nonprofit?”

Those questions cannot be answered until a court determines once and for all who lawfully represents Home of the Sages, said Carone. He said his clients are not opposed to selling the property per se, but want to make sure that the sale price is fair and the sale represents the interests of the congregation.

The suit also alleges that last year Aschkenazi, in a belated attempt to create the illusion that congregants supported the sale, bused 17 people from Brooklyn and New Jersey to a sham Home of the Sages meeting, where they retroactively voted to approve the property sale and the distribution of the proceeds to Aschkenazi and Friends of Mosdot Goor. Many of the “Bus Congregation” members had “never stepped foot onto the Property before the sham meeting,” according to the suit, and many are affiliates of the Goor sect, “puppets of Rabbi Aschkenazi” who “stand to gain a financial windfall in the event [of] the sale.”

More commonly transliterated as Ger, Goor is a Hasidic dynasty based in Jerusalem — described as “the largest and most powerful in Israel” in a 2016 Haaretz article — with followers in Brooklyn and Lakewood, New Jersey. Friends of Mosdot Goor likely plans to use its $10 million share of the sale to build a synagogue in Israel, according to a legal filing previously mentioned by the Times. Goor could not be reached for comment, nor could the individual members of the “Bus Congregation” named as defendants in the suit.

As a replacement place of worship, Aschkenazi has offered the patrons of the Home of the Sages use of a synagogue located in his Queens home – in exchange for $48,000 in annual rent. (In legal petitions cited by the Times, Aschkenazi described his $3 million cut of the sale as an “endowment” for Home of the Sages, which would be used to fund the replacement synagogue.)

There is a key problem with this scenario, however: Orthodox Jews cannot use motor transportation on the Sabbath, making it impossible for the Lower East Side patrons of Home of the Sages to get to services each week.

The suit also alleges that in the lease agreement for the replacement synagogue, Aschkenazi’s wife, Rathma Bithya Aschkenazi, who signed as “landlord,” used her maiden name in order to conceal her relationship with Aschkenazi.

Aschkenazi, who could not be reached for comment, is already the subject of an unresolved class action lawsuit alleging he used the Home of the Sages name to perpetrate years of charity fraud. Angry former donors filed a lawsuit in 2015 arguing that Aschkenazi pocketed thousands of dollars a year through a misleading fundraising newsletter. The newsletter purported to support a nursing home for elderly and destitute Jewish scholars; although the Home of the Sages property was once used for that purpose, the last “sages” moved out or passed away in the mid-’90s, and the Home of the Sages now leases space to an unrelated for-profit nursing home.

Yet the Home of the Sages was raising some $500,000 a year from donors, the Forward reported in 2015, citing tax filings. When the charities bureau of the New York state attorney general’s office opened an investigation, Aschkenazi purportedly fled to Israel to escape prosecution – shortly after also being served papers by federal agents.

Attorney David Jaraslowicz of Jaroslawicz & Jaros described the entire affair as riddled with conflicts of interest, inconsistencies, and red flags. “The best disinfectant is a little sunshine,” he said, paraphrasing Justice Louis Brandeis.

Jaraslowicz is representing members of the Home of the Sages opposed to the sale in an earlier pro bono case. (Frank Carone of Abrams Fensterman, who filed the recent lawsuit against Aschkenazi, said his firm’s case and Jaraslowicz’s “have a common interest.” He described his suit as narrowly focused on the question of who lawfully speaks for Home of the Sages.)

Jaraslowicz believes Aschkenazi was using Home of the Sages as a personal slush fund. He said that based on his review of Home of the Sages’ 990s – mandatory charity filings – Aschkenazi and others were pulling large amounts of money out of what was supposed to be a religious corporation and giving it to an assortment of groups, including the private school Aschkenazi’s grandchildren attended.

The principal of CKCM Corporation, the operator of the for-profit nursing home that leases space from Home of the Sages, was a business partner of Aschkenazi’s son, now deceased, according to Jaraslowicz and the lawsuit filed by Abrams Fensterman. The suit also alleges that Aschkenazi collects the rent “and retains those payments for his own personal use without remitting them to Home of the Sages.”

New York not-for-profit law requires that the sale of property owned by religious corporations be approved by the state attorney general and the courts; Aschkenazi and Peter Fine have hired a rapid succession of law firms – issuing confusing and sometimes contradictory motions – to push through approval for the unusually cheap sale.

“The developer has been filing a suit a month trying to get around the original suit,” added Jaraslowicz. “[Fine] realized he isn’t going to win the original suit. He keeps changing his positions and is trying to gain some mileage out of flooding us with paper.”

The law firms involved are unusually high-powered for a case involving such a modest real estate transaction. To press their case with the state attorney general, Aschkenazi and Fine hired David Boies, one of the most renowned and expensive lawyers in the country.

Unusually, the recent suit brought by Abrams Fensterman names Goldberg Rimberg & Weg and Fisher & Fisher, two law firms which have represented Aschkenazi and the pro-sale faction, as defendants. The suit alleges they represented Home of the Sages “without the plaintiffs’ knowledge or consent.”

A source with knowledge of attorney Andrew Fisher’s thinking said he read the decision to name the law firms as parties as “overreaching and unnecessary.”

Many of the parties involved could not be reached for comment, despite repeated attempts.

“This case doesn’t pass the smell test,” said Jaraslowicz. “If you dig into it, you’ll faint from the stench.”

Stringer Issues Subpoena After More Questions Surface About $173 Million Deal With Notorious Slumlords

City Comptroller Scott Stringer announced on Friday that he is issuing a subpoena for appraisal information and other documents used by the de Blasio administration to purchase a $173 million real estate portfolio from a reputed slumlord family, as part of the administration's push to convert the apartments to housing for the homeless.

Stringer's action comes one day after news reports that the lawyer for the landlords, Frank Carone, both donated and helped raised money for Mayor Bill de Blasio’s federal political action committee, Fairness PAC, which is being used to explore a presidential run.

In a press release, Stringer said:

“I have repeatedly expressed concern regarding the $173 million price tag that, to date, has lacked any trace of transparency. My office has made multiple requests to see the appraisals and documents that support this seemingly inflated price, and the explanations provided by the City so far have raised more questions than answers. The City has refused to provide my office with all of the documents and information it relied on to make their decisions. The time for excuses is over and I am therefore issuing a subpoena for any and all appraisals and any other information supporting this deal.”

A spokesperson for the city's Department of Social Services did not immediately respond to a request for comment.

The city closed on the deal on Thursday, after months of controversy following a Daily News story in January that revealed that the owners of the 17-building portfolio were Stuart and Jay Podolsky, brothers who had successfully built a housing profit model of renting the city poorly run homeless shelters.

Homeless advocates defended the purchase, saying that it would allow the city to convert the so-called “cluster-site” units into permanently affordable housing. The effort to buy cluster-site housing is part of the mayor's "Turning the Tide on Homelessness" initiative introduced in 2017.

Stringer’s inquiry raises the question of how the city handled the negotiations with the Podolskys, whose buildings had a history of violations.

But aside from the appraisal process, Joshua Goldfein, a staff lawyer with the Legal Aid Society, which represents tenants who live in the buildings, said Legal Aid attorneys had wondered why the city did not elect to investigate the Podolskys for their management of the buildings and administration of social services they were contracted by the city to provide.

“There’s certainly a lot of room to look into the business practices of these entities,” he told Gothamist on Thursday. “Had they looked they might have found evidence of wrongdoing that would have given them leverage [in the negotiations].”

The Legal Aid Society supported the deal, arguing that the need to convert the units into safe and permanently affordable housing outweighed the unsavory aspects of the landlords. “The most important thing is for the city to take control of these buildings,” Goldfein said. “All of those people are much better off with the city as their landlord.”

But as an example of how the city could have handled the Podolsky-owned units, he pointed to how the de Blasio administration responded to malfeasance in another government-assisted housing system, shelters for drug addicts also known as three-quarter homes.

In 2015, following a New York Times investigation that focused on unsafe housing conditions and the corrupt practices of one operator, the de Blasio administration formed an emergency task force to investigate the houses. It also spurred a series of City Council bills to regulate the industry, which eventually passed into law. In addition, the state Attorney General’s office launched an investigation, and to date the Attorney General has successfully prosecuted three housing providers.

During his weekly interview on The Brian Lehrer Show, de Blasio on Friday said he was not involved in negotiations with the Podolskys. “This price was determined by the law department and social services based on what they thought would happen in an eminent domain scenario,” he said.

He said city officials estimated that seizing the properties through eminent domain would have taken three years.

“This was the price we were going to end up paying,” he said. He said the purchase will secure permanently affordable housing for 2,000 people. “This was the right thing to do to.”

Did Frank Carrone and his associates help Fortis acquire properties?

Attach 1 (lich doc): Court Order Granting Approval of Sale of Assets of LICH Holding Company

Attach 2 (lich 2): Property Records of Downstate at LICH Holding Company Inc

Attach 3 (lich 3): Owner (In Care of Name) of Downstate at LICH Holding Company Inc (see blue arrow on first page)

---------------------------------------------------------------------------------------------------
1

SUPREMECOURT OF THE STATE OF NEW YORK COUNTY OF KINGS

-------------------------------------------------------------- X

In the Matter of the Application of

DOWNSTATE AT LICH HOLDING COMPANY,: INC.

For an Order Approving the Sale ofthe Assets of Downstate at LICH Holding Company, Inc., pursuant
to Sections 510 and 511 ofthe

Not-for-Profit Corporation Law.

-------------------------------------------------------------- X

PROPOSED ORDER GRANTING 510/511 PETITION

Index No. ------

WHEREAS, Petitioner requests in itsVerified Petition dated April 21, 2015 that the

Court grantan Order approving the First Amended and RestatedPurchase andSale Agreement
datedasofJune 30, 2014 ("PSA") byand among Downstateat LICHHolding Company, Inc. ("Petitioner" or
"Seller"), FPG Cobble Hill Acquisitions, LLC ("FPG" or "Purchaser"), Fortis Prope1ty Group, LLC
("Fortis"), and NYU Hospitals Center ("NYUHC") and thereby permitting the sale of substantially all
of the assets of Petitioner (the "Transaction"), a not-for-profit corporation, pursuant to Sections
510 and 511 ofthe New York Not-for-Profit Corporation Law ("NPCL"); and

WHEREAS, Petitioner's real estate assets, including the four core hospital buildings known as the
Fuller Pavilion, the Othmer Pavilion, the Hemy Street Building, and the Polak Pavilion
(collectively, the "Hospital"), as well as various non-core properties, are presently subjectto a
Lease Agreement dated May 29, 2011 (as amended through the date ofthis Order, the "2011 Lease")
between Petitioner and The State University ofNew York (the "State University"), the sole
memberofPetitioner, and willbe transferred pursuant tothetrifurcated closing schedule set f01th in
the PSA (consisting of(l) the "Initial Closing"; (2) the "New



Medical Site Closing" (also referred to in the PSA as the " NMS Closing"); and (3) the "Final
Closing"); and

WHEREAS, a complete list of Petitioner's real property that is thesubject of the

Transaction (collectively, the "LICH Portfolio") is set forth below, provided that the block and
lot numbers and addresses of the Fuller Pavilion and the Othmer Pavilion will change as
contemplated under the PSA upon completion of a tax lot subdivision byPurchaser; and

TABLE A

Building                                                     Address                             
                Block/Lot No.

Fuller Pavilion                                          339-357 Hicks, 70-76 Atlantic           
  Block 284 part of Lot I

Othmer Pavilion                                        91-95 Pacific                             
             Block 284 pai1of Lot I Henry Street Building                               97 Amity,
340 Henry                               Block 290 part of Lot 13 Polak Pavilion                 
                      363 Hicks                                                  Block 290 part of
Lot 13

Polhemus Building                                   348-352 Henry                               
       Block 295 Lot 21

349 Henry Building                                  349 Henry, 115 Amity                         
  Block 29 l Lot I

Parking Garage                                         350-352 Hicks                             
           Block 282 Lot 50

Engineer Building                                     385-389 Hicks                             
          Block 295 Lot 3

Cobble Hill Condominiu m                        124-134 Atlantic                                 
    Block 285 Lot I00 I

94 A mity Residences                                 94 Amity                                   
            Block 295 Lot 14

86 Amity                                                    86 Amity                             
                    Block 295 Lot 13

82 Amity Residence                                  82 Amity                                     
            Block 295 Lot 11

78 Amity                                                    78 Amity                             
                    Block 295 Lot 9

76 Amity                                                    76 Amity                             
                    Block 295 Lot 8

74 Amity                                                    74 Amity, 379-383 Hicks             
        Block 295 Lot 7

I13 Congress                                              I13 Congress                           
              Block 295 Lot 38

43 Columbia                                              43 Columbia                             
              Block 259 Lot 8

336 Flatbush                                              336 Flatbush                           
                 Block 1058 Lot 30

184 Sterling                                               184 Sterling                         
                 Block I058 Lot 28

112 Pacific Street                                      112 Pacific Street                       
            Block 291 Lot 8

WHEREAS, Petitioner also shall convey to Purchaser all furniture, fixtures, equipment, machinery,
materials, and other personal property of any kind or nature owned by Petitioner,

2



excluding (a) certain personal property, of little or no value to Purchaser, that Petitioner and
Purchaser agreed to exclude from the Transaction; (b) personal prope1ty stolen or otherwise removed
from the real property without Petitio ner' s authorization; and (c) personal property that was
consumed or became obsolete prior to October 31, 2014 (the non-real estate property being conveyed
to Purchaser is hereafter the "Personal Property"); and

WHEREAS, the value of the Personal Property is immaterial relative to the value of the

real estate assets being conveyed; and

WHEREAS, at the Initial Closing, the 2011 Lease will be deemed amended to remove therefrom the
eastern portion of the Othmer Pavilion property, as well as the Parking Garage and all non-Hospital
properties owned by Petitioner as ind icated in Table B, below, and Petitioner will convey such
properties and all the Personal Property wherever located, to Purchaser; and

WHEREAS, Purchaser will demolish the Fuller Pavilion  building and the Othmer Pavilion building,
and once demolition is complete and certain other conditions are met, the New Medical Site Closing
will occur, at which time the 2011 Lease will be deemed amended to remove the New Medical Site
therefrom, and Petitioner will convey the fully cleared New Medical Site (comprised of the Fuller
Pavilion property and the western portion of the Othmer Pavilion property) to NYUHC, which will
then commence construction, at its sole expense, of a "New Medical Building" on the New Medical
Site; and

\VHERE AS, the New Medical Building will be the permanent location for an emergency

depa1trnent, an ambulatory surgery center, certain cancer center services, and other medical
services, in each case to be operated by NYUHC and/or other healthcare providers, and pursuant to
the terms of the PSA, once the New Medical Building is complete, it may not be used for any

3



purpose other than the deliver y of health services and activities ancillary thereto for 20 years;
and

WHEREAS, during construction of the New Medical Building, Petitioner will continue to own the Henry
Street Building and the Polak Pavilion (collectively, the "Final Closing Premises"), but a portion
of those premises will continue to be leased by Petitioner to Purchaser, and then subleased from
the Purchaser to NYUHC, so that NYUHC can continue to operate an interim emergency department in
such premises, and the balance of those remaining Hospital buildings will continue to be leased by
Petitioner to the State University pursuant to the 2011 Lease until the New Medical Building is
complete; and

WHEREAS, once the New Medical Building is complete, NYUHC will move its healthcare operations to
the New Medical Building, the 2011 Lease and the leases relating to the interim emergency
department will tenninate, and the Final Closing will occur, at which time the Final Closing
Premises will be conveyed to Purchaser; and

WHEREAS, upon and after the Final Closing, Purchaser (collectively along with any special purpose
entities ("SPEs") established by Purchaser, as described below) will own the entire LICH Portfolio
other than the New Medical Site (where the New Medical Building will be constructed) which will be
owned by NYUHC; and

WHEREAS, under the PSA, Purchaser may assign all or a portion of its rights to one or more SPEs
formed for the pmpose of acquiling title to the premises being conveyed to Purchaser at any of the
three closings, so long as the Kestenbaum family (the majority owners and principal officers of
Purchaser) must also be the direct or indir ect majority owners, and day-to-day operators, of each
of these SPEs; and

4



WHEREAS, a complete list of entities to which title to the premises will be conveyed, including the
SPEs formed by Purchaser, is set forth below, noting however that the Fuller Pavilion and the
Othmer Pavilion will be demolished and the tax lot will be subdivided prior to conveyance;and

TABLEB

Current Building                        Address                                     Closing     
                 Purchaser SPE Name

Fuller Pavilion                             339-357 Hicks, 70-76

New Medical Site Closing

NYU Ho pitals Center

Western portion ofOthmer Pavilion property

Eastern portion of Othmer Pavilion property

91-95 Pacific, subject to change upon tax lot subdivi sion

91-95 Pacific, subject to

change upon tax lo t subdivision

New Medical Site Clos ing

Initial C losing

NYU Hospitals Center

FPG CH 91 Pacific, LLC

Henry Street Building                  340 Henry                                 Final Closing   
         FPG CH 340 Henry, LLC Polak Pavilion                              363 Hicks             
                   Final Closing                 FPG CH 363 Hicks, LLC Polhemus Building         
          348-352 Henry                          Initia l Closing             FPG CH 350 Herny ,
LLC 349 Henry                                    349 Henry, 115 Amity             Initial Closing
            FPG CH 349 Henry, LLC Parking Garage                            350-352 Hicks       
                Initial Closing               FPG CH 350 Hicks, LLC Engineer Building           
         385-3 89 Hicks                          Initial Closing              FPG CH 385 Hicks, LLC
Co bble Hill Condo minium        124 -134 At lantic                      Initial Clos ing       
      FPG CH 124 Atlant ic, LLC 94 Amity Residences                   94 Amity                   
              Initial C losi ng              FPG CH 94 Amity, LLC

86 Amity                                       86 Amity                                    Initial
Closing               FPG CH 86 Amity, LLC 82 Amity Residence                    82 Amity       
                         Initial Closing               FPG CH 82 Amity, LLC 78 Amity             
                      78 Amity                                    Initia l Clos ing           
FPG CH 78 Amity, LLC

76 Amity                                      76 Amity                                    Initial C
losing               FPG CH 76 Amity, LLC

74 Amity                                       74 Amity                                   Initial
Closing                FPG CH 74 Amity, LLC

I1 3 Congress                                I 13 Congress                            Initial
Closing                FPG CH 113 Congress, LLC 43 Columbia                                  43
Columbia Pl                        Initial Closing                 FPG CH 43 Co lumbia, LLC 336
Flatbush                                336 Flatbush                              Initial Closing
             FPG CH 336 Flatbush, LLC 184 Sterling                                  184 Sterling 
                           Initial Closing               FPG CH 184 Sterling, LLC 112 Pacific
Street                         112 Paci fic Street                    Initial Closing           
FPG CH 112 Pacific, LLC

WHEREAS, the Initial Closing is scheduled to occm on or around April 30, 2015, if all required
approvals are obtained bythat date; the New MedicalSite Closing is scheduledto occur

5



no later than June 30, 2016, but the pmties hope and expect that it will occur earlier; and the
Final Closing is scheduled to occur no later than 36 months after the New Medical Site Closing, but
in all cases, these deadlines are subject to possible extensions for unavoidable delays and under
certain other circumstances as set forth in the PSA; and

WHEREAS, total cash consideration to be received by Petitioner for the assets of Petitioner is
$240,000,000; and

WHEREAS, a ten percent (10%) downpayment of $24,000,000 was paid by Purchaser to

Petitioner on June 30, 2014, and a second downpayment of $2,000,000 is payable to Petitioner if
Purchaser's lender requires certain minimal soil and other testing at the LICH site; and

WHEREAS, approximately $118,000,000 (the " PlT Bond Defeasance Amount") of the

$240,000,000 in sale proceeds will be used to defease ce1tain Personal Income Tax Bond debt ("PIT
Bond Debt") associated with the LICH Portfolio; and

WHEREAS, at the Initial Closing, Purchaser will pay half of the total consideration for the LICH
assets, or $120,000,000, less all of the following (a) half of the downpayment, or

$12,000,000; (b) the $2,000,000 additional downpayment, if Purchaser has paid this additional
downpayment prior to the Initial Closing; and (c) the PIT Bond Defeasance Amount, if Purchaser is
required to and has paid the PIT Bond Defeasance Amount prior to the Initial Closing; and

WHERE AS, if the amount owed by Purchaser at the Initial Closing is a negative number,

as is possible, the negative amount will be credited to the amount that Purchaser will otherwise
pay at the Final Closing; and

6



WHEREAS, at the Final Closing, a second payment of $108,000,000 will be made to Petitioner equaling
the remaining half of the total Purchase Price ($120,000,000), less the remaining half of the
downpayrnent ($12,000,000); and

WHEREAS, Petitioner will use the Transaction proceeds as set fo1th in that ce1tain Grant and
Distribution Agreement ("GDA"), effective as of June 30, 2014, by and between Petitioner and the
State University, and specifically, on the closing date of the Initial Closing, Petitioner shall,
(i) if not previously retired or defeased, retire or defease the PIT Bond Debt, (ii) pay that
certain mortgage in the original principal amount of $1,600,000 granted by Long Island College
Hospital to AIP Associates and currently held by The Health Science Center at Brooklyn Foundation,
Inc., pursuant to Assignment of Mortgage from U.S. Bank National Association encumbering the Cobble
Hill Condominium (the "Condo Debt"), and (iii) if sufficient funds exist after the payment of the
PIT Bond Debt and the Condo Debt, set aside a reasonable reserve (the "Reserve"), not to exceed
$2,000,000, for payment of payables, debts, and liabilities of Petitioner including any that are
not known or have not yet accrued as of the closing date of the Initial Closing, and on the closing
date of the Final Closing, Petitioner shall (iv) pay all then-known outstanding debts and
liabilities of Petit ioner, including any debts and liabilities that are Petitioner's obligation
then to pay under the PSA, and (v) set aside such funds as are necessary to fully fund the Reserve
at a level of $2,000,000, for payment of payables, debts, and liabilities of Petitioner that are
not known or have not yet accrued as of the closing date of the Final Closing and to fund
Petitioner's costs of wind-down and eventual dissolution; and

WHEREAS, (i) any remaining proceeds from the Transaction (after paying the PIT Bond Debt, the Condo
Debt, all- other debts and known lia bilities, including paying for any required building upgrade
in the interim medical space and any other obligation of Petitioner under the

7



te1ms of the PSA, and setting aside the Reserve), which Petitioner and the State University
estimate to be approximately $110,000,000, and (ii) upon the eventual dissolution of Petitioner,
any remaining portion of the Reserve, will be transferred by Petitioner to its sole member, the
State University, in accordance with Petitioner' s corporate purpose and the terms of the ODA; and

WHEREAS, Petitioner has presented three separate appraisals provided by third party appraisers of
the highest and best use of each parcel of the LICH assets; and

WHEREAS, the appraisals support the reasonab leness of the consideration to be paid by Purchaser to
Petitioner for the transferring assets; and

WHEREAS, Petitioner has shown that the proposed Transaction is fair and reasonable to

Petitioner, and will promote Petitioner's charitable purposes in addition to the charitable,
educational, and scientific mission and purposes of its sole member, the State University as
required by section 51l(a)(6) of the NPCL; and

WHEREAS, Petitioner having proceeded on notice to:

Entity/Individual                                                               Address for Notice

Boerum Hill Association, Brooklyn Heights Association,

Can-oll Gardens Neighborhood Association, Cobble Hill Association,

Riverside Tenants' Association, Wyckoff Gardens Association, Inc.,and Kate Mackenzie

Gibson, Dunn & Crutcher 200 Park Avenue

New York, NY 10166

Concerned Physicians of LICH, LLC                                Toomas Mihkel SoITa, M.D.,
F.A.C.G.

554 Henry Street Brooklyn, NY I 123I

Letitia James, Public Advocate for the City of New York

New York State Nurses Association and Carl Biers

M. Umair Kahn

One Centrn Street, 15th Floor New York, NY 10007

Richard M. Seltzer

Cohen, Weiss and Simon LLP 330 West 42nd Street

New York, NY I0036

8



Entity/Individual                                                              Address for Notice

I I 99SETU United Healthcare Workers East                    Susan Cameron

Levy Ratner, PC 80 Eighth Avenue

New York, NY 10011

NAACP New York State Conference Attn: Dr. Hazel N. Dukes, President

Mobilizing Preachers & Communities Attn: Rev. Dr. Johnnie M. Green Jr.

One Hundred Black Men of New York, Inc. Attn: Michael Garner, President

I065 Avenue of the Americas, Suite 300 New York, NY 10018

c/o Mt Neboh Baptist Church 77 Saint Nicholas Avenu e New York, NY 10027

I OS East 22nd Street, Suite 911 New York, NY 10010

Senator Daniel Squadron                                                    250 Broadway, Suite 20I
I

New York, NY 10007

Assemblywoman JoAnne Simon                                     341 Smith Street Brooklyn, NY 1123I

Councilmember Brad Lander                                             456 Fifth Avenue, 3rd Floor
Brooklyn, NY 1121 S

Councilmember Stephen Levin                                          410  Atlantic Avenue Brooklyn,
NY 11217

Councilmember Carlos Menchaca                                     4471 4th Avenue, Ground Floor
Brooklyn, NY 11220

Attorney General of the State of New York Attn: Paula Gellman

Dormitory Authority of the State of New York Attn: Michael E. Cusack, Esq ., General Counsel

Office of the New York State Attorney General Charities Bureau

120 Broadway

New York, NY 10271-0332

S1S Broadway Albany , NY 12207

NOW, upon Petitioner's showing that the consideration and the terms of the Transaction are fair and
reasonable to Petitioner and that the purposes of Petitioner and interests of the sole member, the
State University, will be promoted,

NOW, upon a review of the information set fo11b in three separate appraisals of the

highest and best use of each parcel of the LICH assets,

NOW, upon review of the Verified Petition dated April 21, 2015 and supporting documents, including
the Affirmation of Ruth E. Booher dated April 9, 2015, the Affirmation of Kevin O'Mara dated April
1, 2015, the Affidavit of Richard Miller dated April 8, 2015, the

9



Affidavit of Vicki Match Suna dated January 12, 2015, and the Affidavit of Joel Kestenbaum dated
April 13, 2015, it is hereby

ORDERED, that the First Amended and Restated Purchase and Sale Agreement dated as of June 30, 2014
and the Transaction contemplated thereunder, including the sale of all or substantially all of
Petitioner's assets, by Downstate at LICH Holding Company, Inc., a not-for- profit corporation,
pursuant to the Not-for-Profit Corporation Law Sections 510 and 511 be and hereby are approved; and
it is further

ORDERED, that the conveyance of all of Petitioner's real estate property to the special purpose
entities created by Purchaser FPG Cobble Hill Acquis itions, LLC to take title to the real property
in accordance with the PSA, at the closings indicated in Table B, above be and hereby is approved;
and it is further

ORDERED, that, upon the completion of demolition and certain other conditions set forth in the PSA,
the conveyance of the New Medical Site by Petitioner to NYUHC be and hereby is approved; and it is
further

ORDERED, that the proceeds of the sale, after making the defeasance payment on the PIT Bonds Debt,
paying the Condo Debt, paying all debts and known liabilities of Petitioner, paying for any
required building upgrade in the interim medical space and any other obligation of Petitioner under
the tenns of the PSA, and setting aside the Reserve, shall be tr·ansferred by Petitioner to its
sole member, the State University, in accordance with Petitioner' s corporate purpose and the terms
of the Grant and Distribution Agreement effective as of June 30, 2014 and upon the eventual
dissolution of the Petitioner, any remaining portion of the Reserve after paying all debts and
liabilities of Petitioner, shall be transferred by Petitioner to its sole member, the State
University, in accordance with Petitioner's corporate purpose; and it is fwther

10



ORDERED, that Petitioner shall serve a copy of the signed Order on the Attorney General of the
State of    ew York, and that thi Cowt and the Attorney General hall receive written notice (i) of
the completion of each of the Initial Closing, the    ew Medical Site Clo ing and the Final Clo
ing, (ii) if the Transaction has been abandoned or (iii) if the Initial Clo ing and the balance of
the Transaction are still pending 90 day after the Court's  approval.

IT IS SO ORDERED.

Dated:

Hon.-  - - - - - - - -  -

11

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Downstate At Lich Holding Company Inc

DOWNSTATE AT LICH HOLDING COMPANY, INC. is a DOMESTIC NOT-FOR-PROFIT CORPORATION based out of KINGS county in NEW YORK. Owner/Process Name: C/O CORPORATION SERVICE COMPANY Corporate Address: 80 STATE STREET, ALBANY, NEW YORK 12207-2543

40 property records found New York, NY 40

Date

Party A

Event

Property / Party B

Amount

2017-04-26

N/A

Downstate At Lich Holding Company Inc C/o Suny Downstate Medical Center 45 Clarkson Avenue, Brooklyn, NY

N/a Henry Street, Brooklyn, NY From: fpg Ch 91 Pacificile

2016-07-22

Xfer

355 Hicks Street, Brooklyn, NY

N/A

Downstate At Lich Holding Company inc 450 Clarkson Avenue, Box 1258, Brooklyn, NY

2016-07-22

Downstate At Lich Holding Companying 450 Clarkson Avenue, Box 1258, Brooklyn, NY

Xfer

340 Henry Street, Brooklyn, NY

N/A

2016-07-22

Downstate At Lich Holding Company Inc 450 Clarkson Avenue, Box 1258, Brooklyn, NY

Xter

340 Henry Street, Brooklyn, NY

N/A

2016-07-22

355 Hicks Street, Brooklyn, NY

N/A

Downstate At Lich Holding Company Inc 450 Clarkson Avenue, Box 1258, Brooklyn, NY

2015-09-01

Sells

$4,227,000

Downstate At Lich Holding Company Inc 450 Clarkson Avenue, Brooklyn, NY

74 Amity Street, Brooklyn, NY From: Epg Ch 74 Amity LLC

2015-09-01

$8,926,000

Downstate At Lich Holding Company Inc 450 Clarkson Avenue, Brooklyn, NY

385 Hicks Street, Brooklyn, NY From: fpg Ch 385 Hicks LLC

2015-09-01

Downstate At Lich Holding Companying 450 Clarkson Avenue, Brooklyn, NY

$2,660,000

76 Amity Street, Brooklyo.NY From: Epg Ch 76 Amity LLC

2015-09-01

$2,437,000

Downstate Atlich bolding Company Inc 450 Clarkson Avenue, Brooklyn, NY

78 Amity Street. Brooklyn, NY From: Erg Ch 78 Amity LLC

2015-09-01

$2,318,000

Downstate At Lich Holding Company Inc 450 Clarkson Avenue, Brooklyn, NY

124 Atlantic Avenue, Brooklyn, NY Unit COMM From: Epg Ch 124 Atlantic LLC

2015-09-01

Sells

$12,011,000

Downstate At Lich Holding Company Inc 450 Clarkson Avenue, Brooklyn, NY

91-95 Pacific Street, Brooklyn, NY From: Fpg Ch 91 Pacific LLC

2015-09-01

Downstate At Lich Holding Companying 450 Clarkson Avenue, Brooklyn, NY

$14,107,000

350 Henry Street, Brooklyn, NY From: Epg Ch 350 Henry LLC

2015-09-01

Sells

$2,570,000

Downstate At Lich Holding Companying 450 Clarkson Avenue, Brooklyn, NY

336 Flatbush Avenue, Brooklyn NY From Epg Ch 336 Flatbush LLC

2015-09-01

Downstate At Lich Holding Company Inc 450 Clarkson Avenue, Brooklyn, NY

Sells

$11,756,000

349 Henry Street, Brooklyn, NY From: Epg Ch 349 Henry LLC

https://wwwvv..vurnyrup.vurmPupiny Uvui

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1/9/2010

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Casablant

Date

Party A

Event

Property / Party B

Amount

SHARE

2015-09-01

$17,208,000

Downstate At Lich Holding Company Inc 450 Clarkson Avenue, Brooklyn, NY

350 Hicks Street, Brooklyn, NY From: Epg CH 350 Hicks LLC

2015-09-01

$1,881,000

Downstate At Lich Holding Company Inc C/o Suny Downstate Medical Center 450 Clarkson Avenue, Brooklyn, NY

112 Pacific Street, Brooklyn, NY From: Epg Ch 112 Pacific LLC

2015-09-01

Sells

$5,931,000

Downstate At Lich Holding Company Inc 450 Clarkson Avenue, Brooklyn, NY

184 Sterling Place Brooklyn, NY From: Epg Ch 184 Sterling LLC

2015-09-01

$2,550,000

Dowostate At Lch Holding Company Inc 450 Clarkson Avenue, Brooklyn, NY

86 Amity Street. Brooklyn NY From: Eng Ch 86 Amity LLC

2015-09-01

$1,649,000

Downstate At Lich Holding Company los 450 Clarkson Avenue, Brooklyn, NY

82 Amity Street, Brooklyn, NY From: Epg Ch 82 AmityLS

2015-09-01

Selts

$12,226,000

Downstate At Lich Holding Companying

C/o Suny Downstate Medical Center 450 Clarkson Avenue, Brooklyn, NY

94 Amity Street. Brooklyn, NY From: Fpg Ch 94 Amity LLC

2015-09-01

$5,150,000

Downstate At Lich Holding Companying 450 Clarkson Avenue, Brooklyn, NY

43 Columbia Place, Brooklyn, NY From: 6p9 Ch 43 Columbia LLC

2015-09-01

$2,293,000

Downstate At Lich Holding Company inc C/o Suny Downstate Medical Center 450 Clarkson Avenue, Brooklyn, NY

113 Congress Street. Brooklyn NY From: Erg Ch 113 Congress LLC

2011-05-29

Buys

$1,000,000

Downstate At Lich Holding Company inc 450 Clarkson Avenue, Box 1258, Brooklyn, NY

76 Amity Street. Brooklyn, NY From: The Long Island College Hospital

2011-05-29

Buys

$17,200,000

Downscate At Lich Holding Company inc 450 Clarkson Avenue, Box 1258, Brooklyn, NY

350-352 Hicks Street, Brooklyn, NY From: The Long Island College Hospital Mortgage: $127,631,000 Dormitory Authority Of The State of New York, 515 Broadway, Albany, NY Mortgage: $0 Downstate At Lich Holding Company Inc, 450 Clarkson Avenue, Brooklyn, NY.

2011-05-29

Buys

$66,690,000

Downstate At Lich Holding Company Inc 450 Clarkson Avenue, Box 1258, Brooklyn, NY

339-357 Hicks Street, Brooklyn, NY From: The Long Island College Hospital Mortgage: $127,631,000 Dormitory Authority Of The State Of New York, 515 Broadway, Albany, NY Mortgage: $2,678,710 Dormitory Authority Of The State of New York, 515 Broadway, Albany, NY. Mortgage: $0 Downstate At Lich Holding Company inc, 450 Clarkson Avenue, Brooklyn, NY

2011-05-29

Buys

$5,500,000

Downstate At Lich Holding Company inc 450 Clarkson Avenue, Box 1258, Brooklyn, NY

124 Atlantic Avenue, Brooklyn, NY Unit COMM

From: The Long Island College Hospital

2011-05-29

Buys

$44,310,000

Downstate At Lich Holding Companying 450 Clarkson Avenue, Box 1258, Brooklyn, NY

328-346 Henry Street Brooklyn, NY From: The Long Island College Hospital Mortgage: $127,631,000 Dormitory Authority Of The State of New York. 515 Broadway. Albany, NY Mortgage: $0 Downstate At Lich Holding Company Inc, 450 Clarkson Avenue, Brooklyn, NY.

2/4

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2/9/2nim

Naunatata Auliah Ualdinramnanu inn Dronartu. Donando enroh I Dont Lan....

Party a

Date

Party A

Event

Property / Party B

Amount

2011-05-29

Buys

$10,360,000

Downstate At Lich Holding CompanyInc 450 Clarkson Avenue, Box 1258, Brooklyn, NY

347-353 Henry Street, Brooklyn, NY From: The Long Island College Hospital Mortgage: $127,631,000 Dormitory Authority of The State of New York, 515 Broadway, Albany, NY Mortgage: $0 Downstate At Lich Holding Company inc 450 Clarkson Avenue Brooklyn, NY.

2011-05-29

Buys

$6,130,000

Downstate At Lich Holding Company Inc 450 Clarkson Avenue, Box 1258, Brooklyn, NY

112 Pacific Street, Brooklyn, NY From: The Long Island College Hospital Mortgage: $127,631,000 Dormitory Authority of The State of New York, 515 Broadway, Albany, NY. Mortgage: $0 Downstate At Lich Holding Company Inc, 450 Clarkson Avenue, Brooklyn, NY.

2011-05-29

Buys

$3,200,000

Downstate At Lich Holding Company Inc 450 Clarkson Avenue, Box 1258, Brooklyn, NY

385-389 Hicks Street, Brooklyn, NY From: The Long Island College Hospital Mortgage: $127,631,000 Dormitory Authority Of The State of New York, 515 Broadway Albany, NY. Mortgage: $0 Downstate At Lich Holding Company Inc, 450 Clarkson Avenue, Brooklyn, NY.

2011-05-29

Downscate At Lich Holding Companying 450 Clarkson Avenue, Box 1258, Brooklyn, NY

Buys

$950,000

78 Amity Street, Brooklyn NY From: The Long Island College Hospital

2017-05-29

Downstate At Lich Holding Company Ins 450 Clarkson Avenue, Box 1258, Brooklyn, NY

Buys

$1,600,000

74 Amity Street Brooklyn NY From: The Long Island College Hospital

2011-05-29

Buys

$1,200,000

Downstate At Lich Holding Companying 450 Clarkson Avenue, Box 1258, Brooklyn, NY

82 Ammity Street, Brooklyn, NY From: The Long Island College Hospital

2011-05-29

Downstate Atlich Holding Company inc 450 Clarkson Avenue, Box 1258, Brooklyn, NY

BUYS

$900,000

86 Amity Street Brooklyn, NY From: The Long Island College Hospital Mortgage: $127,631,000 Dormitory Authority Of The State of New York, 515 Broadway, Albany, NY. Mortgage: $0 Downstate At Lich Holding Company Inc, 450 Clarkson Avenue, Brooklyn, NY

2011-05-29

Buys

$10,200,000

Downstate At Lich Holding Company Inc 450 Clarkson Avenue, Box 1258, Brooklyn, NY

88-98 Amity Street, Brooklyn, NY From: The Long Island College Hospital Mortgage: $127,631,000 Dormitory Authority Of The State of New York, 515 Broadway. Albany, NY. Mortgage: $0 Downstate At Lich Holding Company Inc, 450 Clarkson Avenue, Brooklyn, NY.

2011-05-29

Buys

$29,910,000

Downstate At Lich Holding Company Inc 450 Clarkson Avenue, Brooklyn, NY

348-352 Henry Street, Brooklyn, NY From: The Long Island College Hospital Mortgage: $127,631,000 Dormitory Authority of the State of New York, 515 Broadway,

Albany, NY. Mortgage: $0 Downstate At Lich Holding Company Inc, 450 Clarkson Avenue, Brooklyn, NY

https://v.... vunny.vp

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Party a

Date

Party A

Event

Property/ Party B

Amount

2011-05-29

Buys

$1,700,000

Downstate At Lich Holding Companying 450 Clarkson Avenue, Brooklyn, NY

113 Congress Street, Brooklyn, NY From: The Long Island College Hospital Mortgage: $127,631,000 Dormitory Authority Of The State of New York, 515 Broadway, Albany, NY Mortgage: $0 Downstate At Lich Holding Company Inc, 450 Clarkson Avenue, Brooklyn, NY.

2017-05-29

Downstate Al Lich Holding Company Inc 450 Clarkson Avenue, Brooklyn, NY

Buys

$1,400,000

184 Sterling Place, Brooklyn, NY From: The Long Island College Hospital Mortgage: $127,631,000 Dormitory Authority Of The State Of New York, 515 Broadway, Albany, NY. Mortgage: $0 Downstate At Lich Holding Company inc. 450 Clarkson Avenue, Brooklyn, NY.

2011-05-29

Downstate At Lich Holding Company Inc 450 Clarkson Avenue, Box 1258, Brooklyn, NY

Buys

$2,400,000

43 Columbia Place Brooklyn, NY From: The Long Island College Hospital Mortgage: $127,631,000 Dormitory Authority Of The State Of New York, 515 Broadway.

Albany, NY Mortgage: $0 Downstate Al Lich Holding Company Inc, 450 Clarkson Avenue, Brooklyn, NY

2011-05-29

Buys

$700,000

Downstate At Lich Holding Company los 450 Clarkson Avenue, Brooklyn, NY

336 Flatbush Avenue, Brooklyn, NY From: The Long Island College Hospital

Buyers

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450 Clarkson Ave 450 Clarkson Ave, Brooklyn, NY 11203

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• Overview

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Downstate At Lich Holding Company Inc

Employer Identification Number (EIN)

Name of Organization

In Care of Name

.

............................

Address

...............................---

Subsection

451471123 Downstate At Lich Holding Company Inc

Ivan M Lisnitzer 450 Clarkson Ave, Brooklyn (http://www.city-data.com/city/Brooklyn-New-York.html), NY 11203-2012

Charitable Organization

09/2011

Contributions are deductible Organization which operates for benefit of college or university and is owned or operated by a governmental unit

Corporation Unconditional Exemption

Ruling Date

........................

Deductibility

.........

.... ...........

Foundation

Organization

Exempt Organization Status

Tax Period

2012

Assets

$0

Income

$0

Filing Requirement

990 - Not required to file (instrumentalities of states or political subdivisions)

Asset Amount

$o

Amount of Income

$o

Form 990 Revenue Amount

$o

National Taxonomy of Exempt Entities (NTEE)

Educational Institutions and Related Activities: Single Organization Support

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$0

$1,737,288

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18652 Dormans Rd, St Albans, NY 11412

NY 2617 62 W 62nd St Apt 18d, New York, NY

NY 10023-7026 555 W 57th St Fl 10, New York, NY 10019

2925 450 Clarkson Ave, Brooklyn, NY 11203-2012 NY

222 W 83rd St Apt 15d, New York, NY

NY 10024-4927 233 E 69th St Apt 3a, New York, NY 10021

NY 5449 807 Union St, Schenectady, NY 12308-3103 NY

179 Harvard Avenue, Rockville Centre, NY

te, NT NY 11570

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Montana

Alabama

North Carolina

Arkansas

Nebraska

Arizona

New Hampshire

California

New Jersey

Colorado

New Mexico

Connecticut

Nevada

07

District of Columbia

New York

Delaware

Ohio

16

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WOLLE

Florida

Oklahoma

Georgia

Oregon

Hawaii

Pennsylvania

23

Iowa

Rhode Island

بر ا

Illinois

South Carolina

ب

ت

Indiana

South Dakota

Kansas

Tennessee

Kentucky

Texas

Louisiana

Utah

Massachusetts

Virginia

..............

Maryland

Vermont

Maine

1

Washington

Michigan

Wisconsin

Minnesota

West Virginia

Missouri

Wyoming

Mississippi

International

Total

504

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