Page 7 - Vanbarton Group News Today

How Rodrigo Niño’s Prodigy Network collapsed, jeopardizing the investments of thousands of out-of-pocket investors.

Foreign real estate investors accused the Vanbarton Group of striking a backroom deal with a Protestant church to squeeze it out of $60 million invested into one of HFZ’s insolvent development projects

The 10 largest Manhattan loans recorded in May 2021 totaled $1.84 billion, including deals for Durst’s 1133 Sixth Avenue and 114 West 47th Street.

San Francisco construction company, Swinerton, announced it is entering the New York market for the first time in the firm’s 133-year history. Ranked among the top general contractors in California, the company said it has accelerated its business plan by five years to capitalize on the city’s post-pandemic recovery.   ERIC FOSTER “Despite the uncertainty due to the pandemic that adversely impacted New York City, particularly in the office market sector, Swinerton sees opportunity in c...

Vanbarton representatives declined to comment on the lawsuit. Representatives for Pavarini McGovern did not respond to requests for comment. The lawsuit is just the latest sign of upheaval at the project, a 34-story office tower that HFZ was developing with the Marble Collegiate Church. HFZ lost an effort last month to stop the foreclosure sale of the $90.9 million mezzanine loan that Vanbarton Group had provided for the project. A trio of EB-5 funds that invested a total of $60 million in ...

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The auction announcement comes three weeks after Prodigy filed for Chapter 7 bankruptcy, and nearly a year after the crowdfunding network’s founder Rodrigo Niño died. The company is facing more than a dozen lawsuits filed by investors who reportedly poured more than $690 million into its investment platform. A lawyer for Prodigy Network did not respond to a request for comment. More than $50 million of equity for the Assemblage John Street development came from small-time investors who were ...

Inman Connect As President Joe Biden’s $1.9 trillion American Rescue Plan hangs in the balance, more than 160 of the nation’s most influential executives are advocating for its passage through a letter addressed to majority and minority leaders Chuck Schumer, Nancy Pelosi, Mitch McConnell and Kevin McCarthy. Among the 160 signees are 27 residential and commercial real estate executives, including Zillow Co-Founder and CEO Rich Barton, The Corcoran Group President and CEO Pamela Liebman, and...

Share via Shortlink Photo illustration of Rodrigo Niño, with Shorewood’s Larry Davis, 84 Williams Street and 331 Park Avenue South (Getty, Google Maps, iStock/Illustration by Alexis Manrodt for The Real Deal) Johanna Trujillo invested $20,000 in what seemed like a sure thing — a piece of Manhattan real estate. She and her mother bought into a co-working development with meditation rooms and views of Park Avenue South. That was the draw of Prodigy Network: It allowed regular people ...

  HFZ Capital Group is in danger of losing another project in its embattled development portfolio. Ziel Feldman’s firm is facing foreclosure on the mezzanine position at a NoMad development site where it plans to build a 600,000-square-foot office tower, according to a notice scheduling the UCC auction reviewed by The Real Deal. The mezzanine lender on the site, the Vanbarton Group, has scheduled a UCC foreclosure auction for late March. Representatives for HFZ and Vanbarton Group did not im...