Real estate investor Moshe Silber is serving a 30-month prison sentence for his role in a mortgage fraud scheme that duped Fannie Mae and JLL.
But Silber’s sprawling real estate portfolio continues to face issues.
One of Silber’s creditors is seeking to auction off a Silber-linked company that controls roughly 6,300 apartment units across the U.S., along with an office building in New Jersey, according to an auction notice.
The auction is scheduled for April 24 at the Rockland County sheriff’s office in New City, New York.
The auction will be for the ownership of CBRM Realty, a company that controls four other SIlber-linked companies, including Crown Capital, which holds a large chunk of Silber’s real estate portfolio.
The properties within that portfolio include the Slidell in Flint, Michigan; the Evergreen Regency, Flint, Michigan; the Covington Park in Jackson, Mississippi; Copper Ridge and Magnolia Trace in Baton Rouge, Louisiana; and 1,305 units of the Allegheny Housing Rehabilitation Corporation portfolio in Pittsburgh, according to the auction notice. A suburban office complex in Montvale, New Jersey, is also included.
The auction sheds more insight into the scale of Silber’s portfolio. By his early 30s, the Suffern, New York-based investor amassed a real estate portfolio he claimed was worth $1.3 billion. He also owned luxury cars and jewelry valued at $2.2 million.
One of Silber’s largest assets was the Williamsburg of Cincinnati, a 976-unit apartment complex in Hartwell, Ohio. Silber and his co-conspirators pleaded guilty last year for their role in a scheme that involved illegally flipping the property to a straw buyer to obtain a larger loan from Fannie Mae and JLL than they otherwise would have received. In March, Silber was sentenced to 30 months in prison.
Silber’s properties faced distress and lawsuits prior to his sentencing. The auction is related to a lawsuit from a creditor of Silber-linked companies.
Between 2022 and 2023, lenders extended $20 million in loans to Silber. In March 2024, Silber defaulted on the loans, according to a lawsuit filed in New York Supreme Court. A judge issued a judgment in Acquiom’s favor in August 2024.
Acquiom assigned the rights of the judgment to Spano Investor, which is linked to UBS Asset Management. Spano is also pursuing Silber personally on the unpaid loans in a separate lawsuit.
“We do not expect there will be any opposition to this judgment enforcement proceeding and that this valuable bundle of real estate assets owned and controlled by Moshe Silber will generate substantial interest,” said Bernard D’Orazio, an attorney for Spano Investor, in a statement.
An attorney for Silber did not immediately return a request for comment.
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