J
oseph Chetrit is facing financial difficulties at home, but it may be a temporary issue. The principal of the Chetrit Group allegedly defaulted on a $19 million mortgage for his Upper East Side townhouse, according to Crain's. Popular Bank filed a lawsuit in Manhattan state Supreme Court, threatening to foreclose on the six-story brownstone.

    Chetrit claims the default was an error and that he has reached an agreement with his lender to bring the loan current. However, a Popular spokesperson did not confirm this. The suit alleges Chetrit owes $17 million plus interest and late charges on the 30-year mortgage, which he signed in 2019.

    Chetrit purchased the townhouse for $8.7 million in 2007 and has denied plans to sell it, despite briefly listing it for $60 million last spring. His company has sold other properties in the neighborhood, including one to David Koch for $40 million in 2018. Chetrit is also facing difficulties with a planned Two Bridges development, where Madison Realty Capital moved to foreclose after he allegedly defaulted on an $8 million loan used to acquire the site.