When a lender accused a borrower linked to the three prominent investors of trading and depositing money into accounts linked to Chetrit itself, it pushed for a trustee for the property. Now the trustee says the borrower never turned over any significant funds, and Moinian and Minskoff are doing everything they can to blame Chetrit.
The courtroom drama is the latest obstacle for the Chetrit family, which is facing a $132 million judgment from aggressive lender Maverick Real Estate Partners and criminal charges related to alleged tenant harassment.
At the heart of the matter are 500 and 512 Seventh Avenue, a Manhattan office complex and home to the Chetrit Group headquarters.
The lender alleged that the borrower acted on its own and transferred approximately $1 million in tenant deposits to outside accounts. According to court documents, approximately $300,000 was transferred to accounts related to other Chetrit projects or affiliates. These include LLCs tied to the Chetrits that own properties in Hollywood Beach, Florida, and townhomes at 110 and 125 East 64th Streets.
And a court-appointed trustee for the property has accused the borrower of failing to post more than $700,000 in tenant deposits.
Moinian and Minskoff have pointed their fingers at Chetrit.
The three investors are part of a management committee that controls the borrower, according to court rulings by Minskoff and Moinian. All material decisions must be approved by two members, but one of them must be Chetrit.
“On multiple occasions, including but not limited to November 18, 2025, I requested that Meyer Chetrit return the deposit,” reads a statement included in both Minskoff and Moinian’s depositions.
Court documents also include messages between an attorney for Moinian and Minkskoff and an attorney for Chetrit. Christian Becker, an attorney at Kasowitz LLP, demanded that the Chetrits turn over the deposits to the trustee.
“As you know, Mr. Moinian and Mr. Minskoff had nothing to do with, nor did they know of, the alleged bond transfers,” Becker wrote.
Christopher Gorman, an attorney for Chetrit at Rosenberg & Estis, wrote back that he had forwarded the demand to his clients, but that they dispute the claims.
In a court confirmation, Gorman said Chetrit posted approximately $363,000 in bail bonds, which is the total amount they owned at the time.
Becker declined to comment. Gorman, as well as Minskoff and Moinian, did not respond to requests for comment.
The three investors are now technically being held in contempt of court for failing to release the deposits. However, correspondence from the trustee to the judge requested that the request be withdrawn as it relates to Moinian and Minskoff.
The official borrower is 500-512 Seventh Avenue LP, which acquired the leasehold of the property in 1999 for $140 million. The entity took out a $375 million loan in 2018, which the three investors agreed to guarantee in the event of specific bad behavior by the borrower.
512 Seventh Avenue is a 45-story tower with leasable square feet of 544,300 square feet, while the 500 property is an 18-story building with leasable square feet of 676,500 square feet. 228 West 38th Street, also included in the loan, is a five-story commercial building with 10,000 square feet of rentable square footage.
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