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Brooklyn Developer’s Latest Property Crisis | Real Estate News
Brooklyn developer Serabjit Singh Malhotra’s latest real estate misstep: he’s defaulted on a $13M mortgage for a fully leased Dean Street building — the same one he bought in 2015. This follows his May 2024 bankruptcy filing over another property, a former church on Washington Ave, which he also bought for $13.5M in 2019. With multiple properties now at risk — including those on Underhill and Lexington Aves — Malhotra’s financial woes continue, fueled by post-pandemic financing hurdles and construction delays. He even turned to his wife for cash. New buyers snagged the church for $9M…
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