Wonder Work Construction Sues Lender to Stop UCC Foreclosure

The Vitre at 302 East 96th Street with Wonder Works Construction’s Joseph Klaynberg and Daniel Klaynberg (Vitre NY; Wonder Works)

The Vitre at 302 East 96th Street with Wonder Works Construction’s Joseph Klaynberg and Daniel Klaynberg (Vitre NY; Wonder Works)

 

Wonder Works Construction is not letting an Upper East Side condo go without a fight.

The developer has filed a lawsuit against mezzanine lender Nahla Capital, aiming to block a UCC foreclosure auction for a loan tied to its building at 302 East 96th Street, known as the Vitre.

Nahla Capital hired a team of JLL brokers to market the loan back in October, with the auction scheduled for Dec. 8.

But in a lawsuit filed Thursday in state court, Wonder Works argued the sale was a “predatory attempt to capitalize on the Covid-19 pandemic,” engineered to take over the condo.

The language is almost identical to that in an HFZ Capital Group lawsuit filed last month to stop a mezzanine lender on four of its Manhattan condos from moving

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