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Shabsel Brothers Sell Massive Real Estate Portfolio | Real Estate News
The Shabsel brothers are selling off over fifty properties—including a water park, a Hudson Valley ranch, and assorted industrial and hotel assets—after cashing out their summer camp business for $450 million. But this move comes amid a messy financial crisis: their companies owe $234 million to predatory “merchant cash advance” lenders who drain daily profits. They filed for bankruptcy to halt those withdrawals. The real estate sale is being handled by A&G Real Estate Partners, but it’s far from straightforward—properties like amusement parks don’t sell like medical buildings—and there’s an…
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