Behind the charismatic rise and shocking unraveling of one of New York real estate’s most prominent figures. For over a decade, Nir Meir appeared to live the high life as a top executive at HFZ Capital Group, one of New York’s most prominent luxury developers. He rubbed shoulders with celebrities and billionaires, owning luxury homes and cars. But behind the scenes, Meir allegedly orchestrated an elaborate fraud scheme that would eventually see him accused of stealing over $86 million. Here is a look at Meir’s dramatic trajectory from rising star to imprisoned criminal defendant.
Mysterious Early Life
Meir was born in Israel in 1975, but little is known about his early life. He has said he attended college in France but dropped out. In the early 2000s, he immigrated to the United States and got his start in real estate as a broker leasing apartments in Manhattan. That’s when he met Ziel Feldman, who would play a pivotal role in Meir’s future.
Rising Through the Ranks
In 2006, Feldman brought Meir along when he launched HFZ Capital Group. Meir excelled at winning over investors and bringing in deals. “We used to joke that a loan would be due, and Nir would jump on a plane and come back with a bag full of money,” a former HFZ employee recalled. Meir quickly became Feldman’s right-hand man and one of the most influential figures within HFZ.
1. Meir had a reputation as an intimidating and mercurial presence. Employees described him as scary and charming – he could berate people one moment and be their friend the next.
2. Under Meir’s leadership, HFZ developed high-profile projects, converting historic landmarks like the Belnord and Chatsworth into luxury condominiums. This helped HFZ become a star in the New York real estate scene.
Living Large
By all outward appearances, Meir was thriving. He lived an extravagant lifestyle, renting lavish homes, owning expensive cars and wine collections, and frequently hitting exclusive clubs and restaurants. He traveled by private jet. Meir spent over $200,000 on wine in a single month. Associates recall him showing up in fancy suits, trying too hard to impress.
1. Even those closest to Meir wondered where all his money came from, as his projects often encountered financial issues. But Meir always seemed to have more funds to bail things out.
2. While living large, Meir was also a caring family man and mentor to some. He got engaged to his wife Ranee on Christmas Eve in Paris, and they got married a year later at a lavish Plaza Hotel wedding.
Problems Behind the Scenes
Unbeknownst to most, Meir’s projects were allegedly undercapitalized from the beginning. Sources say he would embezzle money from completed projects to cover shortfalls in others. Contractors regularly threatened to walk off jobs due to unpaid bills.
1. Meir’s most significant undertaking, the $1.3 billion XI condo tower on the High Line, faced financial troubles early on. It’s alleged Meir siphoned $253 million from the project’s funds.
2. Meir also allegedly directed HFZ accountants to falsify financial records to hide the company’s economic situation from lenders and investors.
The Unraveling
In 2020, the COVID pandemic halted construction of Meir’s projects, exposing the financial gaps. Lenders and contractors started demanding money while new funding dried up. Sources say Meir grew increasingly erratic and desperate.
1. Ziel Feldman finally took action, firing Meir after discovering the extent of his alleged embezzlement and fraud. The XI project ended up in foreclosure.
2. Meir and his family fled to Miami, but creditors were closing in. By early 2022, they had been evicted from their rented mansion in Miami Beach.
Downfall and Arrest
In February 2022, police arrested Meir at a Miami hotel on an indictment charging him with grand theft, tax fraud, and other felonies related to stealing over $86 million.
1. Even at his arraignment, Meir continued lying, claiming he had faced financial problems from COVID-19. He pleaded not guilty but remains in jail, unable to post $5 million bail.
2. Now facing serious jail time if convicted, the untouchable “Rasputin of real estate” has been brought to justice after years of wild excess, lies, and alleged corruption. But the full scale of his schemes may never be known.
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Conclusion
Nir Meir’s story serves as a cautionary tale about the temptations of wealth, power, and luxury in New York real estate. It also reveals the human cost of the industry’s culture of untrammeled growth and greed. Meir’s victims, from contractors to investors, have been left financially devastated as the truth behind the charismatic executive’s criminal schemes has been laid bare.
