Lender sues to foreclose on Caerus’ mostly empty $38M Midtown office building

A lender is suing to foreclose on a mostly empty office building in Midtown. The lender, Bank 2018-BNK13, filed a complaint in federal court in the Southern District of New York last week asking a judge to foreclose on an office building’s $37.5 million mortgage and appoint a receiver to run the property. The lender alleges that the building has faced significant vacancies and that its owner, Leo Tsimmer’s Caerus Group, stopped making monthly payments in April. Caerus did not respond to a request for comment. The building, 10 East 34th Street, is a 10-story, 55,000-square-foot office building located between […]

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