Defendant, Namdar Realty Group, LLC1, appeals as of right the stipulated order dismissing Igal Namdar, in his personal capacity, as a defendant, and closing this case under MCR 2.602(A)(3). Igal Namdar has built an empire of 268 properties in 35 U.S. states most prominently aging malls in small cities. None of this seems to faze Namdar and Mason executives, who say theyve survived downturns before. The Namdar team hopes more, higher quality malls will keep shaking loose. China Seeks Peaceful Reunification With Taiwan in Key Report, Second Norfolk Southern Train Derails in Ohio in a Month, Bank of Canada Risks Falling Too Far Behind Fed, Scotia Says, Feds Daly Says More Rate Hikes Likely Needed to Cool Inflation, Colombia Prices Rise Less than Forecast to a Fresh 24-Year High, China E-Commerce Giant JD Set for $1.4 Billion Discount Spree, Rivian Tells Staff EV Output May Be 24% More Than Forecast, The UK Is Using Drones to Prosecute Small-Boat Migrant Smugglers, Trump Vows to Finish Mission, Cements Dominance Over CPAC, Bolsonaro Says Mission Isnt Over as US Conservatives Fete Him, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Porsche, Ferrari E-Fuel Push at Heart of EU Engine Debate, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61. For over three generations, Namdar Group has grown into a premier, full-service commercial real estate development, construction and management company serving urban core markets throughout the United States and the Caribbean region. The Judge overseeing this case is Sanford N. Berland. [14] Lawsuits were ongoing in 2018 over Regency Square Mall's lack of maintenance by Namdar. Mr Namdar has also been sued by retailers: International Decor Outlet in 2017 accused the landlord of contract breaches like malfunctioning air-conditioning, substandard repairs and inadequate. They primarily purchase shopping malls with partner Mason Asset Management. The Acadiana Mall was owned by CBL Properties for several years. When the issue was raised, Namdar painted over the water stains and the problem got worse as mold grew and another leak developed, International Decor Outlet asserted in a 2017 suit. You make a lot of mistakes, and you learn from every mistake on the way.. Click here to sign up for Jersey Digs' free emails and news alerts. 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. RESPONSE TO DEMAND For Bill of Particulars, RESPONSE TO DEMAND Response to Notice for Discovery & Inspection (of Northeastern Flooring & Construction, Inc.), NOTICE OF DISCOVERY AND INSPECTION to Second Third-Party Defendant, DEMAND FOR: Supplemental Demand fro Authorizations, DEMAND FOR: Further Demand for Authorizations, NOTICE OF DISCOVERY AND INSPECTION Supplemental Notice of Medical Exchange & Disclosure of Expert Witness, NOTICE OF DISCOVERY AND INSPECTION Notice of Medical Exchange & Disclosure of Expert Witness, STATEMENT OF AUTHORIZATION FOR ELECTRONIC FILING, NOTICE OF DEPOSITION UPON ORAL EXAMINATION, Cases involving other personal injury not classified elsewhere, 360, 1360, 2360, 2367, 3360, 3367, 4360, 4367, 5360, 5367, Joanne Mistrulli - v. - Namdar Realty Group LLC et al, ADJOURNMENT OF CONFERENCE -REQUEST Request for Adjournment of July 30, 2019 Conference on Consent of All Parties; Filed By: Durante, K.; Filed: 07/29/2019; Received: 07/29/2019, DEMAND FOR: Retainer Statement; Filed By: Shein, J. Their first purchase, in 2012, was the DeSoto Square Mall in Bradenton, Fla., after Simon defaulted on the debt. Namdar Realty Group is a shopping mall investment company based in Great Neck, New York. About $4.6 billion of U.S. shopping center debt has been pegged to likely deed-in-lieu of foreclosure events, liquidations or real estate owned (REO) properties, according to a list compiled by Bill Petersen, co-founder of CREDiQ, a commercial real estate analytics firm. Ft. . Tweet. The damage may be causing water to infiltrate the citys sewer system, according to emails between town officials sent throughout 2020 provided to TRD. Cancellation and Refund Policy, Privacy Policy, and 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. They primarily purchase shopping malls with partner Mason Asset Management. NLRB National Labor Relations Board. 2020-02-15 14:18 Iranian banks' foreign assets up over 17% Get the inside scoop on jobs, salaries, top office locations, and CEO insights. Other companies Washington Prime Group Inc., CBL & Associates Properties Inc. and Pennsylvania Real Estate Investment Trust filed for bankruptcy, raising the potential for massive portfolios to come up for sale. 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. Their first purchase, in 2012, was the DeSoto Square Mall in . Namdar Realty Group is a shopping mall investment company based in Great Neck, New York. Public Records Policy. ; Filed: 11/12/2019; Received: 11/12/2019, DocketNOTICE OF DISCOVERY AND INSPECTION Notice of Medical Exchange & Disclosure of Expert Witness; Filed By: Shein, J. Amazon Is Closing Its Cashierless Stores in NYC, San Francisco and Seattle, Amazon Pauses Construction on Second Headquarters in Virginia as It Cuts Jobs, Stock Traders Are Ignoring Blaring Bond Alarms, iPhone Maker Plans $700 Million India Plant in Shift From China, Russia Is Getting Around Sanctions to Secure Supply of Key Chips for War. Kohan purchased the Jamestown Mall in 2009 for $3.3 million. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. This advertisement has not loaded yet, but your article continues below. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. Several market experts pointed to Nadmar and Nassim as among the sectors biggest cash mall buyers. Behind the vacancies and decay: A tough retail climate and low-investment owners", "Meet the Long Island guys who love unloved shopping malls", "Namdar acquires Connecticut mall, its seventh this year", "24-year-old's firm arranges $7.8M in financing", "Executive of the Month: Joel Gorjian of Gorjian Acquisitions and Namdar Realty Group acquires 18 retail properties nationwide", "New York investors buy San Antonio mall worth $102M", "Bangor Mall sells for $12.6 million, well below assessed value", "Bon-Ton gone: Another Phillipsburg Mall anchor is torn down (and ownership is silent)", "Jennifer Furniture comes back to its LI roots", "Goodrich Quality Theaters will reopen after being bought out of bankruptcy", "Goodrich Theaters purchased, reopening plans announced", "West Village Apartment Building Sells for $23.5 Million", "Klosed, Namdar buy five-building Hell's Kitchen portfolio for $26M", "Bon-Ton bankruptcy court ruling makes liquidation more likely", https://en.wikipedia.org/w/index.php?title=Namdar_Realty_Group&oldid=1138343211, This page was last edited on 9 February 2023, at 04:31. We feel that were doing very good for the communities and the properties that we own within those communities, said Masons president, Elliot Nassim. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. The Class A operators are doing great, McNamara told MarketWatch. 201 : Jury Demanded By: Plaintiff - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. The mall looks abandoned, but isnt. Their strategy generally was to suck out as much money from a mall as possible, said Silber, and they try to just dump it.. Some of the properties are owned by one and managed by the other, and some are owned by both. Nassim handles leasing and asset management. 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.. POTTSVILLE, PA. Namdar Realty Group has sold Cressona Mall, a 283,553-square-foot shopping center in Pottsville, about 100 miles northwest of Philadelphia. [12][13], Namdar and Mason partnered to begin purchasing malls in 2012, with the first mall purchased being Desoto Square Mall. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. The company that purchased the Acadiana Mall in January has a history of reported problems elsewhere and a track record of making little progress with properties they own. ; Filed: 10/23/2019; Received: 10/23/2019, DocketDEMAND FOR: Demand for Authorizations; Filed By: Shein, J. Despite being hit with allegations of neglect at several of their malls, Namdar and Mason are rapidly growing. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. . both up more than 40% on the year so far. With 86 million square feet across more than 400 properties combined, they now stack up against some of the industrys biggest players. They primarily purchase shopping malls with partner Mason Asset Management. UniCourt uses cookies to improve your online experience, for more information please see our Privacy Policy. And it may be natural to have issues at some mall locations, especially if theres not enough capital to make changes, industry sources say. Many once online-only retailers are moving into the suburban mall, finding value in the traditional store but offering experiences tailored to their customers. For Namdar, that smells like opportunity. Namdar Realty Group Reviews Updated Jan 27, 2023 Find Reviews Clear All Full-time, Part-time English Filter Found 25 of over 26 reviews Sort Popular Popular COVID-19 Related Highest Rating Lowest Rating Most Recent Oldest First 2.4 28 % Recommend to a Friend 12 % Approve of CEO Igal Namdar 9 Ratings There are no pros to display at this time. By continuing to use this website, you agree to UniCourts General Disclaimer, Terms of Service, and other major mall owners with a coast-to-coast reach. Namdar and Mason, which co-owns and co-manages the Regency Mall and others, declined to comment on specific lawsuits but denied the accusations. But in the meantime, according to retail strategist Marshall Kay, malls serve a purpose for the communities that theyre in, regardless of the backlash they may face over their condition. The case remains pending in a Florida circuit court. Founded in 1999, Namdar started with a single acquisition of a small retail storefront in Long Island, NY. Others will be demolished by their owners. But almost anything below Class A, there really has been no bid for, except for the Namdars of the world. Namdar and Empire bought the 13-story, 64-year-old 830 Third Ave. office building for $72M this month after acquiring 345 Seventh Ave., which is 24 stories high and more than 90 years old, for . 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. [2][5] Voorhees Town Center was having maintenance and security issues the same year. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. Is it where my wife would shop? Nassim said about their properties. Among recent mall deals was the US$10.3-million purchase in April of Marketplace at Brown Deer outside Milwaukee, valued at US$45 million in 2005, according to loan documents and an announcement by the seller, Retail Value. The canopy is peeling off the building, and its signage has fallen. Unauthorized distribution, transmission or republication strictly prohibited. What is the alternative for the retailers who rent from them?. 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. DJIA, In another part of the mall, the leaky roof allegedly made it impossible for a tenant to move in. Namdar Realty Group LLC and Igal Namdar: Case Number: 2:2020cv05649: Filed: November 19, 2020: Court: US District Court for the Eastern District of New York: Presiding Judge: Edward R Korman: Referring Judge: Anne Y Shields: Nature of Suit: Labor: Fair Standards: Cause of Action: 29 U.S.C. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. Case Number: 1:2023cv01044. al., No. June 21, 2021. in General News, Northeast. +1.03%, In October 2019, Dollar General received an order to evacuate: The fire alarm system was out of service and needed to be replaced. "When you own 100 retail properties, of course you're going to have people having complaints. Its all about the cost basis, said Cedrik Lachance, director of research at Green Street. But he still sees the problem as too much debt on lower quality properties financed years ago, when mall valuations were pegged at much higher levels. Trash cans placed in walkways to catch water in a nearly empty wing of Regency Square in 2019. More Jersey City News -- Have something to add to this story? Namdar Realty Group is an American shopping mall investment company based in Great Neck, New York. In addition to buying properties, the company has acquired potential tenants. Representatives of the new owner of the Westfield Trumbull mall are set to meet in an effort to discuss both sides' respective visions for the shopping center. Companies that have increased sales while improving profit margins include Salesforce and Amazon. Location: People at location: North America: 187: 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. The lawsuit was later voluntarily dismissed. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. Fifteen years later, the mall was sold in July 2016 to Namdar Realty Group along with The Lakes in Muskegon for an aggregate price of $66.5 million, including the assumption of a $38.2 . Visit our Community Guidelines for more information and details on how to adjust your email settings. 2:2020cv05649 - Document 32 (E.D.N.Y. Kohan bought Northland Mall from Developers Diversified Realty for $1.8 million in late December 2008. Menu. If Namdar wasnt the owner of these properties, would it mean that certain areas would be underserved? The financial issues tied to struggling U.S. malls already runs into the billions. That mall now includes a senior center, Planet Fitness and large sporting goods store, Gabrovsek said. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. Thats when Morgan Stanleys team estimates that 50% of mall-based specialty leases, including those of American Eagle Outfitters Inc. When the pandemic hit, those issues were only exacerbated. The Long Island, New York-based real estate investment firm has about 54 million square feet across the country. Soon after the sale closed, tenants allegedly began to flee. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. The pandemic accelerated Americans years-long shift to e-commerce, forcing many already-ailing department stores and apparel shops to go dark. But as online shopping grew and consumer habits changed, many malls found themselves plagued by dwindling foot traffic and rising bankruptcies. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. The companies were sued in 2017 by a tenant, International Dcor Outlet, who claimed the owners failed to properly maintain and repair the property. Nassim brought in the national tenants and managed to fill spaces that brokers couldnt, Igal said. At a shuttered mall in Hazelwood, Missouri, near St. Louis, the local newspaper published images of burned-out light bulbs and waist-high grass. Comments may take up to an hour for moderation before appearing on the site. Amazing opportunity on this 3 bedrooms, 2-bathroom Home with lots of upgrades. Namdar Realty Group Profile and History. RELATED:Court records show Acadiana Mall sought thousands from former tenants. ; Filed: 02/20/2018; Received: 02/20/2018, DocketANSWER; Filed By: Shein, J. Public Records Policy. DeSoto Square closed permanently in April, according to local news reports. Namdar Group has submitted an application for the 35 Cottage Street property to Jersey City's planning board, but a hearing date for the proposal has yet to emerge. Namdar and Nassim make no pretense of catering to luxury consumers. View 8012 W 14th Ct, Hialeah, FL real estate investment calculator for traditional & Airbnb rental properties. Who's David Thomson? More than 20 percent of U.S. malls will close by 2022, according to a 2017 report by Credit Suisse. Namdar Realty Group LLC et. Namdars spokesperson blamed hastily completed contracting work that Sears had commissioned a number of years back, before the retailer shut its doors. the proactive techniques for administration professionals by using a service quality lens to address administration and management concepts in all areas of the criminal Namdar's actions in New Jersey appear to be opposite of their statements that malls can remain viable. Namdar declined to comment on the value of the properties his company owns, or his personal wealth, but said the figures Bloomberg is reporting are inaccurate. ; Filed: 11/04/2019; Received: 11/04/2019, DocketDEMAND FOR: Further Demand for Authorizations; Filed By: Shein, J. Case Details Parties Documents Dockets Whats our next move? The formula for Namdar Realty Group and partner firm Mason Asset Management is to recruit down-market retailers to fill vacancies while holding down costs by limiting debt and capital-improvement spending. Filed: February 21, 2023. [2][3][6], Namdar and Mason primarily purchase malls for low prices, with various problems, but do not invest in improving them. ; Filed: 03/12/2018; Received: 03/12/2018, AFFIRMATION/AFFIDAVIT OF SERVICE; Filed By: Shein, J. A purchase price was not disclosed. Los Angeles, CA 90071 Term Loan6 Pacific Investment Management Company LLC 650 Newport Center Drive Newport Beach, CA 92660 Morgan Stanleys retail team of analysts forecast last October that the pandemic could force 35% of U.S. shopping malls to shut permanently. Namdar has not returned phone calls and emails seeking comment on their plans for the Acadiana Mall. Namdar Realty Group and Gorjian Acquisitions have taken a roughly 50% equity stake in the borough's Fordham Landing megaproject, according to Dynamic Star. And the best part of all, documents in their CrowdSourced Library are FREE. ; Filed: 02/20/2018; Received: 02/20/2018, ANSWER; Filed By: Shein, J. ; Filed: 02/20/2018; Received: 02/20/2018, STATEMENT OF AUTHORIZATION FOR ELECTRONIC FILING; Filed By: Shein, J. Nassim and Namdar are frequent partners in shopping malls, Reuters reported in June of 2018. History. (Dec. 6), Police arrest suspect in Christmas Eve mall shooting, Court records show Acadiana Mall sought thousands from former tenants, Your California Privacy Rights/Privacy Policy. ; Filed: 10/01/2019; Received: 10/01/2019, DocketADJOURNMENT OF CONFERENCE -REQUEST Request for Adjournment of July 30, 2019 Conference on Consent of All Parties; Filed By: Durante, K.; Filed: 07/29/2019; Received: 07/29/2019, DocketDEMAND FOR: Retainer Statement; Filed By: Shein, J. The Posthaste newsletter has all the breaking business news and market signals you need, The Posthaste newsletter the business news you need, Igal Namdar: The billionaire bottom feeder who buys malls as others run away, Death of the balcony: Why an outdoor space of one's own may soon be a luxury in condoland, The CRA generally lets you claim family medical expenses not this time, Nordstrom joins the exodus of U.S. retailers from Canada: What you need to know, We are very clearly in an energy supply crisis Eric Nuttall sees return of triple-digit oil prices, 'Panic station at Fox News': How the Murdochs agonized over Trump's election loss. An REO property is one where a property is owned by a lenderbecause it failed to sell in a foreclosure auction after the borrower defaulted on the mortgage. . A local mall representative could not comment on Namdars plans. If the only thing you know about sports is who wins and who loses, you are missing the highest stakes action of all. The Judge overseeing this case is Nassau Dcm-Tj. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. From New York, NAMDAR is trying to control how a local business (Coltons Social House) in Clovis CA is operating a restaurant. Landlords that own lower-end malls with high proportions of tenants that have fallen behind on rents or shuttered stores have been hit especially hard. And when the electricity went out in one part of the mall in June 2017, it took Namdar four months to restore power, a local church claimed in a third lawsuit. We see that a lot of these malls are being sold by lenders, said Igal Namdar, the companys president, in an interview with MarketWatch. Namdar ultimately traded the property to ML Holdings for $25.5 million. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. We earn $400,000 and spend beyond our means. Searching articles in Namdar Realty Group Llc x Sign In | | | Close. [20][21], Mall properties owned or managed by Namdar Realty Group as of 2021 include:[22] (This list is incomplete), "Who is the 'investor group' trying to save Bon-Ton from liquidation? 2021) Court Description: ORDER denying 22 27 Motion to Dismiss; granting 28 Motion to Amend/Correct/Supplement *** Counts 1 and 2 of the Second Amended Complaint are dismissed without prejudice for lack of subject-matter jurisdiction. Among the new businesses that have moved into the Acadiana Mall in recent years are Bain Amour, It'z Pop-A-Licious, White Barn, Torrid, Shi Shi Boutique and Coney Island Pizza Cones and Ice Cream. Commercial Observer A venture of Empire Capital Holdings and Igal Namdar has agreed to pay $107 million, or $486.36/sf, for 345 Seventh Ave., a 220,000-square-foot office building in Manhattan. Namdar and Mason are both family owned, and as of 2021, own over 400 properties including 1 00 plus malls. They primarily purchase troubled shopping malls with partner Mason Asset Management. If you don't see it, please check your junk folder. Namdar and Mason are both family owned, and as of 2021, own over 400 properties including 100 plus malls. Area real estate experts agree that the retail period for the property is . No court date has been set yet. Others will be handed back to lenders through an uncontested or confrontational foreclosure process.. Based in the upscale enclave of Great Neck, Long Island, Namdar and Mason are both family run. 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. Namdar Realty Group said the transaction closed in late August. In the meantime, a judge assigned Spinoso Real Estate Group to manage the mall while the case proceeded. Finally, one place to get all the court documents we need. All are headquartered in Great Neck. namdar realty group llc. You go in and you dont know much, he noted. West Village Apartment Building Sells for $23.5 Million Witnick, Namdar, Gorjian buy 30 East 14th Street for $23.5M West Village apartment building was at the center of two lawsuits New York. Namdar Realty Group insights Based on 25 survey responses Areas for improvement Overall satisfaction General feeling of work happiness Fair pay for job Poorly ran Housekeeping (Former Employee) - Westland, MI - October 12, 2022 Don't care about who works there as long as your a body your hired. News 12 has reached out to Namdar . Read More. [16][17] Namdar was a partner in several New York City area property purchases in 2021. Instead, Namdar Realty Group, based in Great Neck, N.Y., is accused in a pair of lawsuits of failing to invest in Regency Square's most basic maintenance, resulting in leaky roofs, broken electrical systems, and a roach infestation that have kept tenants from moving in. 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 . Ft. By comparison, Macerich owns 51 million square feet across 47 malls, and Simon Property Group owns 186 million square feet across 250 properties. Meyer Silber, an attorney for ML Estate, declined to comment. Igal Namdar, owner of Namdar Realty Group, paid $2.5 million Feb. 28 for the 26-year-old mall at the intersection of Jake Alexander and Statesville boulevards. The properties Namdar and Nassim began scooping up after the 2008 financial crisis were C or D malls, categories, like exam grades, that point to room for improvement or near failure. NAMDAR REALTY GROUP 150 GREAT NECK ROAD SUITE 304 GREAT NECK, NY 11021 Tel: 516.773.0010 Fax: 516.773.0030 OFFICE HOURS MONDAY - FRIDAY 9:00AM - 6:00PM EST [email protected] Namdar owns and operates retail property throughout the United States. ; Filed: 11/04/2019; Received: 11/04/2019, DEMAND FOR: Further Demand for Authorizations; Filed By: Shein, J. Instead of U.S. stockholders and quarterly reports, the team keeps things simple: Namdar focuses on management side of the properties. Finally, one place to get all the court documents we need. 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 and inadequate security at the Regency Square Mall in Jacksonville, Fla. ; Filed: 03/23/2018; Received: 03/23/2018, DocketNOTICE OF DISCOVERY AND INSPECTION; Filed By: Shein, J. Indeed, Mason Asset Management and Namdar Realty operate several in Michigan, including Flint, Jackson, Muskegon, Saginaw and West Branch. 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 and inadequate security at the Regency Square Mall in Jacksonville, Fla. Landlord is an absentee landlord with a reputation as a slumlord,' the complaint in Duval County Circuit court alleged. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. The Big Take is the very best of Bloomberg's in-depth, original reporting from around the globe every day. Namdar Realty Group is the new owner of the 1-million-square-foot shopping center which has lost two of its three anchor stores over the past year. A rising variety of individuals will move via the doorways of the Bangor Mall within the coming weeks and months to get pleasure from theater, music, gaming and different leisure points of interest which can be beginning to rival retail facilities on the mall. On 05/04/2017 World Properties LLC filed a Contract - Other Contract lawsuit against Namdar Realty Group LLC. Like dozens of other traditional malls, the Acadiana Mall has seen its share of struggles in recent years. The duo, through Namdar Realty Group and Mason Asset Management out of Great Neck, Long Island, currently owns about 60 million square feet of shopping center space, including roughly of 100 open-air properties are 65 enclosed malls. ", "Company Overview of Namdar Realty Group LLC", "Owner of former Echelon Mall, called 'slumlord' in Fla., taps overseas cash to become nation's biggest mall buyer", "N.J. mall sold for half price to company that already owns a dying mall", "What happened to the Phillipsburg Mall?