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Chetrit sells retail condo at Flatotel conversion tied to alleged money laundering Group including Christopher Okada paid $9.5 million for the 5K sf space

UPDATE, May 17, 10:16 a.m. The fight over stolen cash allegedly tied up in the Chetrit Group s condominium and office conversion at 135 West 52nd Street continues, but sales at the property are apparently proceeding re上海千花网


A group of investors including the principals of real estate advisory and 新爱上海同城对对碰论坛

investment firm Okada Co., Christopher Okada and Francis Leung, paid $9.5 million for a 5,000-square-foot commercial condominium at the property, the former Flatotel in Midtown.

BLT Prime steakhouse has leased the space from the group, the Wall Street Journal reported.

Chetrit, along with partner Clipper Equity, bought the 254,000-square-f爱上海龙凤419桑拿

oot property in 2013 for $180 million. The developers planned 109 condominium units at the property, all but 22 of which had sold as of last week.

A lawsuit filed in October by Almaty, Kazakhstan s large上海千花网龙凤论坛

st city, and BTA, one of the country’s largest banks, alleged that Chetrit had accepted a $40 million investment of what the suit alleged was stolen money. The suit was settled in November. Chetrit has prevented the alleged thieves from taking their money out of the project, pending resolution of the charges against them.

Chetrit has a $100 million stake in the project, according to court papers. [WSJ, third item] – Ariel Stulberg

Clarification: Clipper, while a partner in the project, was not n上海夜网论坛

amed in the lawsuit filed by BTA and Almaty. The text has been updated to reflect such.

Tags: Chetrit Group
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