Midtown Office Building Hits Market After Foreclosure
Merchants Bank lists the nine-story property at 19 West 55th Street for sale following a 2026 foreclosure.
Updated on Oct. 27, 2026 in Commercial
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Merchants Bank has listed the commercial building at 19 West 55th Street in Midtown for a price in the low $20 million range. The bank acquired the 39,000-square-foot property in a foreclosure sale in July 2026.
Why it matters
The listing follows a legal dispute initiated by Merchants Bank in March 2023 after Aview Equities failed to repay a $36.7 million refinance loan. The property, originally purchased by Abraham Leifer for $50 million in 2018, faced a foreclosure judgment of $49 million in July 2024.
The nine-story building, constructed in 1920, encompasses 39,000 square feet of space. The property is currently being marketed by CBRE for a price in the low $20 million range.
The players
Merchants Bank
This financial institution acquired the Midtown property through a legal foreclosure process.
Aview Equities
The firm faced a foreclosure suit after failing to repay its commercial refinance loan.
Abraham Leifer
He is the investor who originally purchased the building for $50 million in 2018.
Dan Kaplan
He is a broker at CBRE tasked with marketing the commercial property to potential buyers.
The details
Merchants Bank took ownership of the site after Aview Equities failed to maintain required cash balances and satisfy the terms of its loan. CBRE broker Dan Kaplan has been hired to oversee the sale of the asset.
Timeline
Abraham Leifer purchased the building in 2018.
Merchants Bank sued Aview Equities in March 2023.
A judgment of foreclosure was issued in July 2024.
Merchants Bank acquired the building in a foreclosure sale in July 2026.
Merchants Bank listed the property for sale in October 2026.
Culture Shift
The sale reflects the broader trend of institutional lenders offloading commercial real estate assets following the distress of the post-pandemic era. This transition highlights the ongoing recalibration of property values in Midtown and the wider New York City market.
The listing of this Midtown property may influence local commercial real estate pricing and investment activity in the surrounding area. Prospective buyers or tenants should monitor the final sale price as a benchmark for property values on West 55th Street.
The takeaway
Investors and local business owners should keep an eye on how this property's sale price compares to its 2018 valuation. Following commercial real estate listings can provide valuable insight into shifting market dynamics within the city.
Further reading
Explore more local listings and trends in our New York City Commercial section.
Source note: This article includes information reported by The Real Deal New York.
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