Ohad Fisherman surrenders to charges in Alexanders criminal case; Inside Rialto's foreclosure filings against RFR… and more

THE RUNDOWN:

?? Ohad Fisherman, a family friend of Oren and Alon Alexander, surrendered to Florida authorities on a sexual battery charge connected to allegations that he helped the Alexander twins rape a woman in 2016.

?? Rialto Capital Advisors ramped up its foreclosure campaign against Signature Bank borrowers, filing at least 37 lawsuits since taking over the failed bank’s $19 billion loan book last year.

?? Lakewood real estate investor Aron Puretz was sentenced to 60 months in federal prison for his role in a $54.7 million commercial mortgage fraud scheme and ordered to pay restitution of $22 million.

?? The Real Estate Board of New York filed a federal lawsuit to block the FARE Act, a new law requiring landlords — not tenants — to pay broker fees, which often amount to 15 percent of a year’s rent.

?? David Kramer, the former president of Hilton & Hyland, joined Compass, bringing his six-person team and over $1.7 billion in career sales to the brokerage’s Beverly Hills office.

??? Nearly three dozen coastal high-rises in Miami-Dade, including luxury towers like the Four Seasons Residences at the Surf Club and Porsche Design Tower, are sinking at “unexpected” rates, a new study revealed.

THE DETAILS:

?? Ohad Fisherman surrenders to charges in Alexanders criminal case??

This comes after an unsealed federal indictment accused Oren, Alon and Tal Alexander of sex trafficking and assaulting dozens of women over a decade, with an FBI task force interviewing 40 alleged victims.

• Fisherman, who denies the allegations, appeared in court after returning from his honeymoon and has been released on bond under strict conditions, including surrendering his passports and wearing an ankle monitor.

• A former colleague of the Alexanders at Official Partners, Fisherman launched his own brokerage last October, shortly after reports of the Alexanders’ alleged crimes surfaced.
• Fisherman’s surrender follows the arrests of Oren and Alon Alexander, who remain in state detention in Miami awaiting transfer to federal custody, while Tal Alexander is held at a federal facility.

?? Rialto goes scorched earth on Signature borrowers, Aby Rosen

Bearing the brunt of the legal siege are Aby Rosen and Michael Fuchs, who now face six lawsuits tied to Signature loans, adding to their existing pile of legal battles over Midtown office buildings.

• Rialto’s latest case alleges RFR defaulted on a $45 million loan for a retail condo at 188 East 78th Street, with the debt ballooning to $65.7 million due to 19 percent in default interest.
• Smaller borrowers, including family firms and individual landlords, have also been hit hard, with many struggling to fight back against the servicing giant.
• Rialto has faced accusations of manufacturing defaults to extract fees or seize assets, though few borrowers have successfully challenged the firm.

?? Aron Puretz is going to prison

Puretz, who ran Apex Equity Group, pleaded guilty to wire fraud for falsifying sales contracts to secure inflated loans, including a $70 million loan on a Michigan office complex purchased for $43 million.

• His schemes extended to properties in Illinois and Arkansas, where he concealed ownership and circumvented oversight from federal and state agencies, according to the Department of Justice.
• The sentencing marks a milestone in a broader federal investigation into mortgage fraud, with Puretz's son, Eli, and co-conspirator Boruch Drillman also pleading guilty to related charges and awaiting sentencing.
• Beyond the fraud, an investigation revealed deplorable living conditions and over 275 code violations at properties owned by Puretz's companies, including allegations of siphoned utility funds at a senior housing complex in Philadelphia.

?? REBNY sues to block broker-fee bill

REBNY argues the law violates First Amendment protections on commercial speech, interferes with private contracts and conflicts with state law, claiming it could reduce transparency in the rental market.

• Under the FARE Act, brokers who advertise rentals are presumed to represent landlords, limiting their ability to charge tenants fees and prompting concerns that listings may vanish from public platforms.
• The law, which goes into effect in roughly six months, passed without Mayor Eric Adams’ signature and has sparked warnings from rental brokers that their incomes could drop significantly.
• REBNY insists the act could lead landlords to raise rents to cover broker fees, except in rent-stabilized units, while critics argue it levels the playing field for tenants by removing hefty broker fees from lease negotiations.

?? Hilton & Hyland’s David Kramer poached by Compass

Kramer’s move follows Compass’ recent announcement of a $444 million deal to acquire Christie’s International Real Estate and @properties — expected to close next year.

• Kramer’s group comes with $316.7 million in active listings, some of which are co-listings with Hilton & Hyland agents.
• This move follows a period of notable departures from Hilton & Hyland, including agents like Branden and Rayni Williams, who launched the Beverly Hills Estates, and Drew Fenton, now CEO of boutique brokerage Carolwood.
• Kramer described the move as a chance to expand his business with a “vibrant and innovative” brokerage, while Hilton & Hyland has stated plans to name a replacement soon.

??? Miami-Dade high-rises are literally sinking

The new University of Miami study found that buildings across Miami Beach, Sunny Isles Beach, and Bal Harbour were sinking at rates of two to eight centimeters over the past seven years.

• Despite the findings, senior author and geophysics professor Falk Amelung assures that the subsidence is not a cause for alarm, emphasizing that these structures are "very well built" and not at risk of collapse.
• The study, which used satellite imaging to monitor shifts in building components such as balconies and air conditioning units, found no evidence that the sinking could damage a foundation.?
• Researchers attribute the subsidence to factors like the region’s unique geologic makeup, groundwater pumping during construction and vibrations from heavy building activity.

THE CLOSE:?

Will Puretz’s sentencing set a precedent for other investors who have pleaded guilty? Keep reading TheRealDeal.com to find out.

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