A mixed-use West Village building that houses Egyptian restaurant Casa La Femme is now tied up in a foreclosure lawsuit, putting both the popular eatery and the upstairs apartments at 140 Charles Street under a legal cloud. The Greenwich Village property landed in court this week after a lender moved to enforce its mortgage.
According to Crain's New York Business, the lender filed suit in Manhattan Supreme Court seeking to foreclose on the building that includes Casa La Femme. The coverage notes that the complaint is asking the court for permission to enforce the mortgage if the alleged default is not fixed.
Restaurant and building
Casa La Femme, which promotes Egyptian cuisine and belly-dance performances on its site, lists its home base as 140 Charles St. Casa La Femme operates out of the ground-floor storefront, while online listings show multiple residential units at the same address, indicating a classic Village mixed-use building. Trulia, for instance, has carried listings tied to 140 Charles Street.
What foreclosure could mean
A foreclosure judgment does not automatically kick out tenants or wipe out commercial leases, and New York State lays out specific rules on what owners and renters can expect while a case plays out. The state agency Homes and Community Renewal publishes fact sheets that spell out notice requirements and protections.
Even with those rules on the books, foreclosure litigation and requests to appoint a receiver can leave residents and small businesses guessing about who is handling repairs, collecting rent and making decisions while the case moves through court.
Part of a wider push
Local coverage has flagged a run of similar filings this spring as lenders and debt buyers go after older multifamily loans across Manhattan. Hoodline's recent roundup links this case to a wider wave of lender crackdowns in Manhattan state court, a trend tenant advocates say can put pressure on building upkeep and day-to-day management when ownership is in flux.
What's next
The foreclosure will continue on the Manhattan Supreme Court docket, where the building's owners can seek time to cure any alleged default and the lender can push for a receiver or a sale if things are not resolved. For now, Casa La Femme is still listed at 140 Charles Street, and neighbors, diners and tenants will likely be keeping a close eye on the dockets and on neighborhood reporting to see what happens next.
