Filing Alert: 1240 Edward Grant Chapter 11

1240 Edward Grant LLC, a single asset real estate company whose principal asset is a commercial property at 1240 Edward Grant Highway in Bronx, NY, filed for Chapter 11 protection on Aug. 4 in the U.S. Bankruptcy Court for the Southern District of New York.

The company reports $10 million to $50 million in both assets and liabilities. The filing indicates that there will be funds available for distribution to unsecured creditors. The case number is 26-11859.

Key Parties

Signatories:

• Joseph Alexander – Managing Member

Equity Security Holders:

• Joseph Alexander – 70% Equity Interest
• Carlos Cassios – 10% Equity Interest
• Charlie Georgelis – 10% Equity Interest
• Michael Panagiotopoulos – 10% Equity Interest

Bondoro Insights is continuing to monitor this case and will provide further coverage as appropriate.

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