Metzger to buy Chabad of Midtown building for $40,000,000

NYPOST - A flurry of lawsuits over 509 Fifth Ave. may become moot now that sources say Rabbi Joshua Metzger has signed a contract to pay $40 million for the nondescript building partially occupied by his nonprofit Chai Foundation and Chabad Lubavitch of Midtown.

The rabbi, who blessed Knick Amar’e Stoudemire after he went to Israel to search for his Jewish roots, would be buying a 12-story, 60,000-square-foot building that is sandwiched between two larger buildings and sits mid-block between East 42nd and 43rd streets.

The New York State Supreme Court complaint filed by the Chai Foundation claims that back in 2010, Metzger discussed his desire to buy the building with real-estate investors David Werner and Amram Kass.

The complaint says Metzger provided “confidential” information about the building where Chai was occupying two floors before being cut out of its subsequent purchase.

The complaint asks for at least $30 million in damages from Werner and Kass, who have countered that they are not part of the ownership group.CONTINUE....