One of Manhattan’s most prolific condo developers is facing potential foreclosure on four properties, after years of laggard sales -- and a lender finally fed up waiting for returns.
An $89.5 million slice of junior mezzanine debt tied to projects by Ziel Feldman’s HFZ Capital Group will be sold at a public auction on Nov. 12, according to brokerage Newmark Knight Frank, which is promoting the offering. Public sales are typically ordered for loans that are in default.
