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Chetrit Group faces dissolution after health setbacks and funding crunch
Joseph Chetrit was hospitalized in April 2025 after two strokes, leaving him unable to fully answer questions about the brothers' real estate portfolio.
Bisnow reports that the Chetrit Group, led by brothers Joseph and Meyer Chetrit, is being pushed toward dissolution amid health troubles and financial disputes with lenders.
The brothers were subpoenaed earlier this year, forcing them to discuss their real estate empire with lenders' attorneys. Court testimony described the group as once owning nearly $1B in real estate, primarily in New York, while Joseph Chetrit’s ability to participate has been complicated by medical issues, including two strokes and related hospitalization.
Joseph Chetrit said in an April 29 deposition that he was in a coma after the strokes, making it difficult to respond about the portfolio. In addition, court memos cited hip replacement surgery in February followed by a wound infection that required a return to the operating room.
Meyer Chetrit testified on March 24 that the Chetrit Group has run out of funds and stopped doing business, and he valued the portfolio at about $964M at the end of 2022 at negative $80M. The Hotel Carter in Times Square, subject to multiple lawsuits and alleged debt defaults, had more than 150 violations cited in court, and it was scheduled to be sold at auction in May, with lender Mack Real Estate Group seeking recovery on a $31.5M mezzanine loan tied to the property.