Chetrits mismanaged Williamsburg hotel, lender says in foreclosure suit

The Chetrit family is facing potential foreclosure and allegations of mismanagement at a Williamsburg hotel and rental building.  The lender has requested a receiver for the building, claiming that the borrower didn’t get permission for a major lease, failed to pay vendors, missed the maturity deadline and is not maintaining the building. Tenants at the property have previously accused the Chetrits of overcharging on rent, constituting another event of default.  The property at the center of the claims is 500 Metropolitan Avenue in Brooklyn, the site of the Hotel Indigo Williamsburg. In total, the Chetrits took out $133 million against […]This article originally appeared on The Real Deal. Click here to read the full story.