
Abraham Leser’s 111 Livingston Delinquent on $120M Loan
Abraham Leser's firm fell behind on debt payments at 111 Livingston Street after two tenants, Brooklyn Law School and the Legal Aid Society, went on rent strike and sued Leser over delayed maintenance at the Downtown Brooklyn office building. Court records indicate that months of back rent accumulated, possibly hindering the Leser Group's ability to service its debt. Leser became delinquent on the property's $120 million loan in May, then missed June's payment, Morningstar data shows. As of July, Morningstar marked the loan current but the debt remains watchlisted. Louis Solomon of Reed Smith, which is representing Leser in the lawsuit, confirmed that the loan is performing. “The normal operations between the bank and the company are fully in place,” Solomon wrote in an email. The building's occupancy rate dropped…