Ashkenazy debt in doubt as trustee moves to end Surrey Hotel ground lease

In late April, Ashkenazy Acquisitions took the unusual step of pushing the Surrey Hotel into bankruptcy to protect its debt interest in the shuttered property from being wiped out by a ground lease default. Ashkenazy’s involuntary petition was granted in July but the ground lease on the Upper East Side hotel is now likely to be terminated anyway. In a court filing this week, the Chapter 7 trustee for the hotel’s estate said the lease

source https://therealdeal.com/2020/08/06/ashkenazy-debt-in-doubt-as-trustee-moves-to-end-surrey-hotel-ground-lease/