Sunday, January 12, 2014

Clue in Stark's Murder

In this Dec., 2012 Google map photo, Stark is seen siting in his Lexus in front of his office at Rutledge St. in Brooklyn, NY

Police have found a new clue in the unsolved murder of a real estate developer whose burned body was found in a dumpster.
WABC TV is reporting tonight, that a cell phone was found strapped underneath Menachem Stark’s car that was apparently being used as a tracking device. Police are trying to find the phone’s registered owner.
Two masked men grabbed New York City real estate developer Menachem Stark outside his office one snowy night and thrust him into a waiting van. His burned body turned up a day later in a smoldering trash bin, miles away in suburban Long Island.
Stark, a member of an ultra-Orthodox Jewish sect, has been described as an honest family man eager to help his neighbors and friends, a man who had no enemies. But he’s also been called a slumlord. Some of his buildings were in disrepair, and he owed millions to creditors and had declared bankruptcy in 2009.
Stark, nicknamed Max, was a husband and father of seven, the youngest barely 2 years old, the oldest about 16. He lived in a stately brick building in Williamsburg, a neighborhood where hipsters in skinny jeans live alongside ultra-Orthodox men with ear locks and fur hats and women in modest dresses. Brooklyn is home to the largest group of ultra-Orthodox Jews outside Israel — more than 250,000. Stark came from a large family, and his funeral this week was flooded with mourners.
“He really was a loving husband and father,” said Abraham Buxbaum, married to Stark’s older sister. “I don’t ever remember getting a ‘no’ from him. He helped people get into the real estate market. He was there for every individual, and the community.”
Stark and his business partners owned and renovated buildings throughout Brooklyn as the borough became increasingly trendy. Court records show they often borrowed money from banks to finance new ventures.
But they filed for bankruptcy in 2009 and landed in court several times. He and his primary business partner, Israel Perlmutter, were sued in 2011 after defaulting on a $29 million loan, according to federal court records. In 2012, he was ordered to pay more than $4 million for defaulting on a $2.5 million loan for a separate renovation, court records show.
A bankruptcy judge on Thursday ordered the company to account for $2 million owed to creditors involved in one of his buildings in 2009. They had filed paperwork saying they were concerned about the money being repaid following Stark’s death and his apparent “financial dire straits.”
Stark had about 1,000 tenants, maybe more, his family said, and several described him as a terrific landlord. Jordan Brown, 30, said he’d lived in a building owned by Stark for about three years and he thought very highly of him.
“I knew Max well, and he was actually the only landlord I ever knew who wasn’t a slumlord,” he said.
Another tenant, Melissa Manning, rented commercial space from him and said he was friendly, flexible and responsive.
“We had no conflicts, no disagreements, nothing. He was great,” she said.
But many of his buildings had dozens of serious violations, including working without proper permits. And he was also the target of dozens of complaints of mismanagement, prompting a Sunday headline on the front page of the New York Post that read: “Who didn’t want him dead?”
Heather Letzkus runs a blog about real estate in north Brooklyn, something she described as a “wailing wall” for residents with bad landlord tales, and Stark and his buildings have played prominently. There are particular complaints about a hotel of single rooms once raided by the U.S. Drug Enforcement Agency and an industrial building billed as luxury lofts. Stark was fined $25,000 in 2009 for unsafe working conditions at the loft site, according to records. A stop-work order is in place there because of unpaid fines.
“There’s a pattern,” Letzkus said. “One of the things that really jumped out at me is that you had similar complaints and citations,” she said.
Many friends point out that a landlord with 1,000 tenants is bound to have some critics. Buxbaum, the brother-in-law, said it would have been impossible for Stark to maintain such split personalities.
“You can’t hide forever. If you’re a bad person, it comes out,” he said. “No one ever said anything bad; I only heard people say how good he was.”

1 comment:

Anonymous said...

Joel Kestenbaum from Fortis property investment Group purchased the mortgage on 212 -218 N 9th St Brooklyn NY from Broadway Bank, The property was further transferred on 08/16/2013 to a new Corporation named FPG 218 NORTH 9th PROPERTYLLC. C/O FORTIS PROPERTY GROUP LLC 45 Main Street Brooklyn NY 11201 Joel Kestenbaum is notarized as the President / Owner by a Notary named Shem Tov Mayer on 05/05/12 Notary# 01MA5069188 NYS Kings County . Joel Kestenbaum purchased the Mortgage on the building owned by Israel Perlmutter & Menachem Stark. Kings County Section: 8 ,Block: 2313<: Lot# 5 and lot # 7 . The Mortgage was defaulted on and the bank who made the loan National Bank was subsequently shut down by the FDIC . Joel Kestenbaum purchased the failed loan from the FDIC and as a first mortgage holder wants to own the property that is worth over $50 million and didn’t want any fights or opposing court battles with Permutter or Stark in the foreclosing process, Rumors are that Kestenbaum had a nasty argument with the murdered Menachem " Max" Stark who was murdered and his partner Perlmutter regarding this property prior to Starks murder. Rumors out there is that Joel Kestenbaum is being implicated and is being questioned by authorities regarding Starks Murder