Rabbi living in house of worship not enough to stop foreclosure
A Brooklyn judge has allowed property foreclosure to continue despite arguments that a rabbi and his family reside on the premises.
Congregation Atzei Chaim of Siget borrowed $499,000 from State Bank of Long Island (State Bank) and used its building at 1511 50th St. in Borough Park, Brooklyn, as commercial collateral for its mortgage.
Failing to pay the note, State Bank initiated foreclosure proceedings against the organization’s Brooklyn property. The congregation, a religious corporation, filed motions to halt the foreclosure, arguing against the real property classification of 1511 50th St. as a commercial asset.