Filing Alert: Endi Plaza Chapter 11

Endi Plaza LLC, an owner and operator of a mixed-use residential and commercial property, filed for Chapter 11 protection on Jun. 6 in the U.S. Bankruptcy Court for the Southern District of New York.⁽¹⁾

The company owns the "Endi Apartments," a complex in Duluth, Minnesota, featuring 142 apartment units and 13,876 square feet of retail space. The filing was precipitated by a decision from its lender, Fannie Mae, to proceed with appointing a state court receiver following a foreclosure action on its property. Endi Plaza had defaulted on its $51.8 million mortgage (originated March 31, 2023) around June 1, 2024, due to increased operating expenses and commercial vacancies. The bankruptcy aims to stay the receiver appointment and continue negotiations for a restructuring or refinancing of the mortgage debt. The company also reported approximately $8.6 million in unsecured debt owed to Lift Bridge Partners.

The company reports $50 million to $100 million in both assets and liabilities. The filing indicates that there will be funds available for distribution to unsecured creditors. The case number is 25-35613.

⁽¹⁾ This marks the company's second bankruptcy filing, following an earlier Chapter 11 case (No. 24-23068) filed in December 2024 that was dismissed in March 2025.

Key Parties

Counsel:

• Joshua R. Bronstein
• Joshua R. Bronstein & Associates, PLLC
• Email: jbrons5@yahoo.com

Bankruptcy Counsel:

• Goldberg Weprin Finkel Goldstein LLP

Signatories:

• Josh Steiner – Restructuring Officer

Equity Security Holders:

• Endi Village LLC – 75.1% Equity Interest
• Endi Pointe LLP – 24.9% Equity Interest

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

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