The Chetrit family is under threat of foreclosure and facing allegations of mismanagement concerning the Hotel Indigo Williamsburg at 500 Metropolitan Avenue. A lender has requested a receiver, claiming multiple defaults including failing to secure permission for a lease, not maintaining the property, and neglecting vendor payments. The Chetrits reportedly owe $157 million on a loan of $133 million. Tenants have accused them of overcharging rent and abandoning the building, leading to dangerous living conditions. Meyer Chetrit faces specific legal allegations for providing inadequate financial oversight.
The Chetrit family is facing potential foreclosure and allegations of mismanagement at a Williamsburg hotel property, with a lender requesting a receiver due to multiple defaults.
The suit alleges that the Chetrits have not paid vendors, missed the maturity deadline, and taken out $133 million against the property, now owing an alleged $157 million.
Tenants accuse the Chetrits of overcharging on rent and virtually abandoning rent-stabilized apartments, cutting essential services, and maintaining dangerous conditions.
Meyer Chetrit is named as a defendant for guaranteeing the loan, being accused of failing to maintain liquidity and provide essential financial documents.
Collection
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