“How did Housing Bubble 2.0 implode? Slowly, than all at once.” – future historians

Upper East Side rentals head to bankruptcy auction

Aulder Capital initiated foreclosure more than a year ago

Two Upper East multifamily apartment buildings are heading to a bankruptcy auction next month, more than a year after a lender moved to foreclose.

Aulder Capital initiated a UCC foreclosure on the 37-unit multifamily properties at 162-164 East 82nd Street in late 2021. The apartments, which are mostly free-market rentals, are largely controlled by apparel entrepreneur Ruben Azrak.

Azrak hired bankruptcy specialist David Goldwasser to put the properties into bankruptcy in September of last year, halting the foreclosure.

Greg Corbin, the president of bankruptcy and restructuring at Rosewood Realty Group, is marketing the bankruptcy sale. Corbin also marketed the UCC foreclosure auction.

h/t BoatSurfer600