Namdar Realty Group is a privately held, commercial real estate investment firm, owning and managing over 57 million square feet of commercial real estate throughout the United States. Any seller of retail malls or open air any size of portfolio, were there, Namdar, 51, said in an interview from his headquarters in Great Neck, N.Y. We can close immediately, as is, where it is, with no due diligence., Any seller of retail malls or open air any size of portfolio, we're there. ; Filed: 11/12/2019; Received: 11/12/2019, NOTICE OF DISCOVERY AND INSPECTION Notice of Medical Exchange & Disclosure of Expert Witness; Filed By: Shein, J. The mall, At the now-shuttered Phillipsburg Mall in New Jersey, following a heavy rain in 2018, the roof of a vacant Sears collapsed, bringing a water pipe down with it, according to, Prince Harry, Meghan Markle asked to leave U.K. home, Real estate investor pleads guilty to stealing $3M, Massive unbuilt Arizona estate asks record $75M, Amazon hits brakes on construction of second headquarters. the proactive techniques for administration professionals by using a service quality lens to address administration and management concepts in all areas of the criminal AEO, At the same time, many tenants have simply stopped paying rent, as countless malls struggle to regain their footing. New York Times bestselling author David Levithan tells the based-on-true-events story of Harry and Craig, two 17-year-olds who are about to take part in a 32-hour marathon of kissing to set a new Guinness World Recordall of which is narrated by a Greek Chorus of the generation of gay men lost to AIDS. Namdar has also been sued by retailers, including International Decor Outlet, which in 2017 accused the landlord of contract breaches such as malfunctioning air conditioning, substandard repairs. That mall now includes a senior center, Planet Fitness and large sporting goods store, Gabrovsek said. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. View 8012 W 14th Ct, Hialeah, FL real estate investment calculator for traditional & Airbnb rental properties. Single Family Residential. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. But when the new owner took a closer look after the sale, it found things were not as they appeared. So theres great value there.. Namdar Realty Group LLC Company Profile - Dun & Bradstreet New York firm buys Hickory Point Mall | Local - Herald-Review At the Regency Square Mall in Jacksonville, Florida, roaches roam freely, the air conditioning is broken and the roof leaks, according to a series of lawsuits filed over the past four years. We have enabled email notificationsyou will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Visit a quote page and your recently viewed tickers will be displayed here. If some old malls can be used in new, creative ways, such as the mini-casino plan for an old Macys store at Namdar-owned Nittany Mall in State College, Penn, all the better. Soon after the sale closed, tenants allegedly began to flee. Visit our Community Guidelines for more information and details on how to adjust your email settings. [7] The roof at the former Sears at the Phillipsburg Mall would later collapse. New owner of Trumbull mall makes good first impression ; Filed: 12/10/2019; Received: 12/10/2019, DocketNOTICE OF DISCOVERY AND INSPECTION Supplemental Notice of Medical Exchange & Disclosure of Expert Witness; Filed By: Shein, J. Whats our next move? Mason president Elliot Nassim, 40, whose cousin married Namdar, focuses on leasing and redevelopment while Namdar oversees property management. Joanne Mistrulli - v. - Namdar Realty Group LLC et al - UniCourt In 2019, Namdar bought 30 properties and Mason acquired 23. [5] Jennifer Furniture was purchased in June 2020 by John Garg and Namdar. Westfield Trumbull mall sold as part of deal worth $196 million Find company research, competitor information, contact details & financial data for Namdar Realty Group LLC of Hanover, PA. Get the latest business insights from Dun & Bradstreet. Mark Gabrovsek, the townships zoning officer, said the mall's local management team has worked to bring innovative ideas to the site. At the same property, Impact Church of Jacksonville accused managers of avoiding upkeep, making the building look abandoned. Impact paid US$7.4 million in 2016 to buy a former Belk department store on the site, where it now runs a school as well as a church. ; Filed: 02/20/2018; Received: 02/20/2018, ANSWER; Filed By: Shein, J. As we build our portfolio, we want to constantly improve the quality by having better assets.. Namdar and the subsidiaries said they would fix the air conditioning and leaking problems, but allegedly never did so. I think that in many respects if they dont define what theyre going to do with these malls in general, then they may get defined by the bad ones.. Namdar Group is adding 26 Van Reipen Avenue and 626 Newark Avenue to a pipeline that includes a 20-story rental at 26 Cottage Street, and a combined six new towers designed by C3D Architecture. A Path Forward for Regency Can Be Found at a Small Mall in DeKalb N.Y. real estate developer gets Salisbury Mall for $2.5 million Namdars spokesperson blamed hastily completed contracting work that Sears had commissioned a number of years back, before the retailer shut its doors. Namdar Realty Group is a shopping mall investment company based in Great Neck, New York. Namdar, who got his start in real estate using money from his family's jewelry business, said he clinched his first mall deal that year with Nassim by acquiring Desoto Square Mall for $24.6. Notice of withdrawal of Order to Show Cause without prejudice, Notice of withdrawal of motion without prejudice, Affirmation in Opposition to Proposed Intervenor's OSC, DocketNOTICE OF WITHDRAWAL OF MOTION / ORDER TO SHOW CAUSE (Motion #3) Notice of withdrawal of Order to Show Cause without prejudice; Filed By: Gomberg, T.; Filed: 03/27/2019; Received: 03/27/2019, DocketNOTICE OF WITHDRAWAL OF MOTION / ORDER TO SHOW CAUSE (Motion #002) Notice of withdrawal of motion without prejudice; Filed By: Gomberg, T.; Filed: 03/27/2019; Received: 03/27/2019, DocketEXHIBIT(S) - D (Motion #3) Complaint; Filed By: Schimek, M.; Filed: 02/26/2019; Received: 02/26/2019, DocketEXHIBIT(S) - C (Motion #3) 190124 Letter; Filed By: Schimek, M.; Filed: 02/26/2019; Received: 02/26/2019, DocketEXHIBIT(S) - B (Motion #3) 190103 Letter; Filed By: Schimek, M.; Filed: 02/26/2019; Received: 02/26/2019, DocketEXHIBIT(S) - A (Motion #3) 181205 Letter; Filed By: Schimek, M.; Filed: 02/26/2019; Received: 02/26/2019, DocketAFFIDAVIT OR AFFIRMATION IN REPLY (Motion #3); Filed By: Schimek, M.; Filed: 02/26/2019; Received: 02/26/2019, DocketAFFIDAVIT OR AFFIRMATION IN OPPOSITION TO ORDER TO SHOW CAUSE (Motion #3) Affirmation in Opposition to Proposed Intervenor's OSC; Filed By: Hirschel, D.; Filed: 02/20/2019; Received: 02/20/2019, DocketEXHIBIT(S) - E (Motion #3) Medical Record Redacted per 22 NYCRR 202.5(e); Filed By: Gomberg, T.; Filed: 01/24/2019; Received: 01/24/2019, DocketEXHIBIT(S) - D (Motion #3) Mold Intrusion Report; Filed By: Gomberg, T.; Filed: 01/24/2019; Received: 01/24/2019, DocketNOTE OF ISSUE:WITH JURY *Corrected* Note of Issue (with Jury); Filed By: Hirschel, D.; Filed: 08/30/2018; Received: 09/03/2018, DocketSTIPULATION - SO ORDERED; Filed By: Court User; Filed: 06/12/2018; Received: 06/12/2018, DocketORDER - CERTIFICATION; Filed By: Court User; Filed: 06/11/2018; Received: 06/11/2018, DocketNOTICE OF DISCOVERY AND INSPECTION Notice of Discovery and Inspection; Filed By: Hirschel, D.; Filed: 09/29/2017; Received: 09/29/2017, DocketORDER - PRELIMINARY CONFERENCE; Filed By: Court User; Filed: 09/21/2017; Received: 09/21/2017, DocketADDENDUM - GENERAL (840A); Filed By: Hirschel, D.; Filed: 07/26/2017; Received: 07/26/2017, DocketRJI -RE: REQUEST FOR PRELIMINARY CONFERENCE; Filed By: Hirschel, D.; Filed: 07/26/2017; Received: 07/26/2017, DocketPRELIMINARY CONFERENCE REQUEST Request for Preliminary Conference; Filed By: Hirschel, D.; Filed: 07/26/2017; Received: 07/26/2017, DocketANSWER; Filed By: Emouna, M.; Filed: 07/26/2017; Received: 07/26/2017, DocketSUMMONS + COMPLAINT Summons and Complaint; Filed By: Hirschel, D.; Filed: 05/04/2017; Received: 05/04/2017. ; Filed: 02/20/2018; Received: 02/20/2018, DocketAFFIRMATION/AFFIDAVIT OF SERVICE; Filed By: Cavalier, D.; Filed: 02/05/2018; Received: 02/05/2018, DocketSUMMONS + COMPLAINT; Filed By: Cavalier, D.; Filed: 01/24/2018; Received: 01/24/2018. ; Filed: 01/24/2020; Received: 01/24/2020, NOTICE OF DISCOVERY AND INSPECTION to Second Third-Party Defendant; Filed By: Shein, J. With 86 million square feet across more than 400 properties combined, they now stack up against some of the industrys biggest players. ; Filed: 11/04/2019; Received: 11/04/2019, DocketDEMAND FOR: Further Demand for Authorizations; Filed By: Shein, J. Sticker shock: Ranking South Floridas priciest residential rentals, Here are Chicago's top 10 construction permits issued in May. Namdar Realty Group - Just Another Bad Mall REIT - YouTube We live in purgatory: My wife has a multimillion-dollar trust fund, but my mother-in-law controls it. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. SPX, - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. A spokesperson for Namdar said it is actively working to fix the property. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. Mall employees and customers voiced concerns to the city, but outreach to Namdar went unanswered until the city threatened litigation, according to the emails. Cancellation and Refund Policy, Privacy Policy, and And it has to be all cash.. Namdar Group's projects, being built by AJD Construction and financed by Scale Lending, will yield a combined 16,000 square feet of office space and 4,000 square feet of ground floor retail along the emerging Homestead Place Pedestrian Plaza. Read: Brookfield to hand back keys to three malls, potentially more, as it goes private in $6.5 billion deal. In the United States Bankruptcy Court for The Southern District of We brought them here on several occasions and went over things, and it was pretty obvious from the onset that they really didnt have any vision for anything we were looking to do. The Mall-Buying 'Bottom Feeder' Has His Sights Set On Manhattan's Older As a result, a build-up of moisture caused the chiller pipes to rip through the ceiling, destroying the tiles, dry wall and floor, according to the church. t the Regency Square Mall in Jacksonville, Florida, roaches roam freely, the air conditioning is broken and the roof leaks, according to a series of lawsuits filed over the past four years. Judge temporarily halts Regency Square Mall auction Acquisitions Archives - Mason Asset Management Last year, Namdar and Mason paid US$12 million to buy cinema chain Goodrich Quality Theaters Inc. out of bankruptcy. Curiously, Namdar and Mason continue to fly under the radar. Namdar Realty Group LLC : Articles :: Law360 If we see that our business idea works, and we can run these models, and we can fix them up, and we can manage them, and we can bring value, well keep on buying.. Some may die a slow death as stores are shuttered one by one. Richard Pelzer II. Roughly $3 billion shopping mall loans in commercial mortgage bond deals have been identified as at-risk of being handed back to lenders, according to research firm and data tracker Trepp.I think some mall owners will muddle through with the help of loan modifications and maybe some peripheral debt forgiveness, saidManusClancy, senior managing director and head of research at Trepp. Their joint operation began when Igal started buying small retail locations in Great Neck using money from his familys jewelry business; Nassim took up the leasing. Of course, not all may be worth saving. At a shuttered mall in Hazelwood, Missouri, near St. Louis, the local newspaper published images of burned-out light bulbs and waist-high grass. Thats when Morgan Stanleys team estimates that 50% of mall-based specialty leases, including those of American Eagle Outfitters Inc. And the best part of all, documents in their CrowdSourced Library are FREE. The development has an estimated cost of . If you don't see it, please check your junk folder. Defendant also challenges the entry of a default judgment against "Igal Namdar, d/b/a Namdar Realty Group" and Igal Namdar in his individual capacity . Namdar Realty Group corporate office is located in 150 Great Neck Rd Ste 304, Great Neck, New York, 11021, United States and has 203 employees. The business owners that power this multibillion dollar industry are changing, and a new era of the business of sports is underway. What is the alternative for the retailers who rent from them?. Single Family Residential. Igal Namdar: The billionaire 'bottom feeder' who - financialpost "We have a very high retention rate for our tenants, which shows us we are doing a good job.". The price was more than half the US$13 million Namdar paid for the entire mall, which names 46 other tenants on its website. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. ; Filed: 03/12/2018; Received: 03/12/2018, DocketAFFIRMATION/AFFIDAVIT OF SERVICE; Filed By: Shein, J. DeSoto Square closed permanently in April, according to local news reports. ; Filed: 01/24/2020; Received: 01/24/2020, DEMAND FOR: Supplemental Demand fro Authorizations; Filed By: Shein, J. -1.26%, From New York, NAMDAR is trying to control how a local business (Coltons Social House) in Clovis CA is operating a restaurant. Namdar and Mason have averaged 20 acquisitions annually over the past decade, but could swallow 100 at a time if the right deal came along, Namdar said, declining to provide details on how much money they plan to spend. Unauthorized distribution, transmission or republication strictly prohibited. Namdars spokesperson said the company has worked diligently to repair the storm drain and any remaining issues surrounding the collapse. Our Story Namdar Group Melrose set to keep tight grip on GKN spin-off - TrendRadars It's owned by Namdar Realty Group, known for aggressively acquiring dying malls and milking them for money while they keep dying. Namdar Realty Group is an American shopping mall investment company based in Great Neck, New York.