Daniel Gryfe, the Canadian investor who leads Precise Capital Management and Mbark Global, is at the center of several real estate lawsuits, the largest of which is a JPMorgan Chase foreclosure action targeting luxury condominium units at The Apthorp on Manhattan’s Upper West Side. He and his wife Dena Gryfe are also on the losing end of an unopposed summary judgment won by a group of investment creditors, and they recently settled a federal wage claim brought by two workers in New York.
The JPMorgan Foreclosure at The Apthorp
In October 2025, JPMorgan Chase Bank filed a mortgage foreclosure lawsuit in New York County Supreme Court against Daniel Gryfe, Dena Gryfe (also known as Dena Graff), and a group of associated entities: KRABM West End LLC, 79th and Broadway Condo LLC, and SJG Partners LP, a New Jersey limited partnership.1Crain’s New York Business. JPMorgan Sues Daniel and Dena Gryfe for Alleged Loan Defaults at Apthorp2UniCourt. JPMorgan Chase Bank v. KRABM West End LLC Et Al Other named defendants include Cogent Bank, the Board of Managers of The Apthorp Condominium, and the New York State Department of Taxation and Finance.
The complaint alleges loan defaults on mortgage obligations secured by condominium units in the landmark prewar building, which occupies a full block on the Upper West Side. The specific dollar figures behind the alleged defaults have not surfaced in the publicly available filings, but the action seeks to recover the real estate collateral. Justice Francis A. Kahn III is presiding.3Trellis Law. JPMorgan Chase Bank v. KRABM West End LLC Et Al
The case is active. The defendants filed a motion to dismiss, the court issued a decision and order on the motion in June 2026, and the matter was marked fully submitted after a June 5, 2026 hearing.2UniCourt. JPMorgan Chase Bank v. KRABM West End LLC Et Al Separately, the Board of Managers of The Apthorp Condominium has filed its own action against KRABM West End LLC, though details in the available records are limited.4Trellis Law. Board of Managers of the Apthorp Condominium v. KRABM West End LLC Et Al
The JLJ Capital Judgment
Months before JPMorgan moved, a group of creditors sued Gryfe in the same court. The plaintiffs — JLJ Capital LLC, JLJ Pref 1 LLC, LV Investor LLC, Comcast Investment LLC, DDG Investor LLC, and JEL Florida Property Trust — brought JLJ Capital LLC v. Gryfe (Index No. 653466/2025) seeking money owed under a settlement agreement dated April 24, 2025.5Leagle. JLJ Capital LLC v. Gryfe Named alongside Daniel Gryfe were Dena Sara Graff, Mbark Global LLC, Zorro Hanover 25 LLC, Suite 960 LLC, KRABM West End LLC, and Chacham LLC.
The plaintiffs moved for summary judgment in lieu of a complaint. On November 18, 2025, Justice Andrew Borrok granted the motion as unopposed. The dollar amount of the judgment is not stated in the available ruling. Several of the JLJ plaintiffs also appear as creditor-defendants in the JPMorgan foreclosure, indicating overlapping financial exposure across Gryfe’s holdings.5Leagle. JLJ Capital LLC v. Gryfe2UniCourt. JPMorgan Chase Bank v. KRABM West End LLC Et Al
The Federal Wage Suit
In September 2025, David Kolotkin and Bryan Camacho sued Daniel and Dena Gryfe in the Southern District of New York under the Fair Labor Standards Act, alleging minimum wage violations.6PACER Monitor. Kolotkin Et Al v. Gryfe Et Al The Gryfes did not initially respond, and the clerk entered a certificate of default against them in November 2025. Counsel appeared for them in January 2026, the default was vacated, and the parties settled soon after. Judge Jeannette A. Vargas approved the settlement on April 2, 2026, closing the case. The terms were not publicly disclosed.
The Corporate Web Behind the Cases
The same handful of entities keeps surfacing across the lawsuits. KRABM West End LLC appears in both the JPMorgan foreclosure and the JLJ Capital judgment. Mbark Global LLC, Zorro Hanover 25 LLC, Suite 960 LLC, and Chacham LLC are all named in the JLJ action. SJG Partners LP and 79th and Broadway Condo LLC show up alongside KRABM West End in the JPMorgan complaint. The result is a corporate structure in which the entities that hold the property, borrow against it, and answer to the creditors overlap heavily, and a judgment or foreclosure against one can pull others into the same proceeding.
How Gryfe Got Into Real Estate
Gryfe grew up in one of Toronto’s most recognizable food businesses. Gryfe’s Bagel Bakery, founded by his great-grandfather Sam in Hamilton, Ontario, in 1916, moved to Toronto and became a Kensington Market and later Bathurst Street institution.7The CJN. A Toronto Institution Celebrates 110 Years of Churning Out Bagels and Danishes Daniel ran the bakery’s wholesale distribution arm and expanded it to more than 500 U.S. stores before leaving to pursue finance and real estate. He holds a bachelor’s degree in business management and corporate finance from Yeshiva University in New York.8Bisnow. What You Don’t Know About Precise Capital Management’s Daniel Gryfe
He founded Precise Capital Management, an Ontario-based real estate investment firm, around 2008. The firm began with a single six-unit Toronto building and, by 2014, was involved in roughly half a billion dollars in deals, including a $40 million portfolio of mixed-use Greater Toronto Area properties bought in 2011. At the time, Gryfe publicly targeted a $1 billion U.S. property portfolio, beginning with rent-stabilized mixed-use buildings in Upper Manhattan.8Bisnow. What You Don’t Know About Precise Capital Management’s Daniel Gryfe His New York-based firm Mbark Global bought the leasehold interest in the Reserve at Deer Park, a 350,000-square-foot suburban Chicago office building, in February 2023 in a transaction reported at $59 million.9The Real Deal. Daniel Gryfe Buys Deer Park Office in $64M Deal
Whether the Apthorp units end up at a foreclosure sale, or whether Gryfe reaches a resolution with JPMorgan and his other creditors, will be decided as the New York cases run their course.