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NY Post
January 4, 2014
A smoldering corpse pulled from a Great Neck dumpster is the millionaire Hasidic real estate developer who was dramatically kidnapped outside his real estate office in Williamsburg on Thursday, law enforcement confirmed to The Post.
“He owed a lot of people money,” one source said of Menachem Stark, 39, who had a string of recent foreclosures and owned some 16 mostly vacant or run-down and drug infested properties under at least a dozen corporate names in Queens and in Brooklyn’s Greenpoint, Williamsburg, Bed-Stuy and Bushwick neighborhoods.
The father of eight died of suffocation, sources said. His body suffered severe burns to one hand and below the waist; it is not clear if he was set on fire before or after his death.
Stark’s business troubles included his history of defaulting on $51 million in real estate development loans — and a string of related lawsuits.
Investigators are finding a pattern of shady dealings in which he acquire properties and then “lose” the properties by foreclosing on big mortgage and improvement loans, only to have the properties snapped up at bargain basement prices by family members and associates, one law enforcement source said.
Stark was also known as a neighborhood ATM machine — dispensing loans to those in need of quick cash, said a neighborhood source familiar with his business dealings.
“He’s a Hasidic Jew from Williamsburg, and we think he’s a scammer,” said one law enforcement source. “And he f—ed over a few people.”
Stark had never made it home Thursday night from his Southside Associates office in Williamsburg, from which he ran his seedy empire — which once included the notorious Greenpoint Hotel on Manhattan Avenue, a flophouse so decrepit and drug-filled, the feds seized it in 2005.
By Saturday morning, the NYPD released dramatic video showing suspects forcing Stark into a light-colored Dodge Caravan outside his office, on snow-covered Rutledge Street near Broadway. Investigators believe he was duct-taped before he was thrown into the van (pictured here), which sped off, going east on Broadway.
Soon afterward, Stark’s name was matched to a body that had been discovered by a gas station employee in Great Neck had discovered the body around 4 p.m., Friday and alerted Nassau County Police.
The body was likely there overnight.
