Aby Rosen contests “charade” foreclosure auction of 285 Madison 

Aby Rosen is fighting to claw back a prized Midtown office building he lost at a foreclosure auction this spring, claiming in court that the process was “rigged.” Rosen’s RFR Realty filed suit Friday against Korea-based lender KTB CRE Debt Fund No. 11, aka Daol Asset Management, alleging the April auction of 285 Madison Avenue was a “charade,” Crain’s reported. KTB took the 27-story property for $132 million after RFR failed to repay its loans.  The lawsuit claims the lender sabotaged Rosen’s efforts to retain or refinance the building by mismanaging the auction, cutting off lucrative management fees and imposing […]This article originally appeared on The Real Deal. Click here to read the full story.