A Baltimore property that changed hands for $43,000 in 2022 and was resold for $310,000 the following year returned to the market in 2026 for just $35,000 after foreclosure, becoming a striking example of an alleged real estate fraud scheme that has drawn scrutiny from lenders and investigators. In a report published by Realtor dot com on October 20, 2026, journalist Julie Gerstein detailed how two federal lawsuits accuse New York real estate investors Eluzer Gold and Benjamin Eidlisz, along with alleged associates, of inflating property values and securing loans against homes that were subsequently abandoned to foreclosure. The allegations have also featured in reporting by The Baltimore Banner, which investigated the investors’ property acquisitions in the city.
The house at 1829 N. Eidlisz bought the property for $43,000 in May 2022 before selling it in July 2023 to Levy Ventures, a limited liability company linked to Gold, for $310,000, according to the lawsuits. Ameritrust Mortgage Corporation filed a federal lawsuit in Maryland on September 9, alleging that Gold, Eidlisz and Shraga Chaim Lerner orchestrated a scheme involving 90 loans worth more than $14 million. A separate lawsuit filed a week later by RCN Capital and Commercial Lender alleges losses of another $10 million involving 59 properties purchased and subsequently defaulted upon between 2023 and 2024. Together, the complaints cover approximately 150 properties, a fraction of the roughly 700 homes the investors were reported to have acquired across the Baltimore area. A separate case involving investor Alexander Schultz and attorney Jacob Rappaport resulted in prison sentences earlier in 2026 over a similar scheme involving dozens of homes, according to Realtor dot com. The $35,000 listing of the Bond Street property offers a visible illustration of the gap between its reported purchase prices and its later market return, while the broader allegations raise questions about property valuations, investor lending and the costs of foreclosure in a city already struggling with distressed housing.
An FBI investigation had been reported by The Baltimore Banner, although the FBI declined to confirm or deny its existence when approached by Realtor dot com. Bond Street illustrates the transactions described in the lenders’ complaints. The complaint alleges that the loans were obtained with the intention of defaulting on them while retaining the proceeds. The complaints also draw attention to debt service coverage ratio (DSCR) loans, a financing product commonly used by real estate investors. These loans generally assess a property’s ability to generate sufficient rental income to cover its debt payments, rather than relying primarily on the borrower’s personal income. Such financing can help investors acquire rental properties, but the lawsuits raise questions about the safeguards in place when properties are transferred between related companies and valuations rise sharply over short periods. The alleged scheme depended, in part, on lenders assessing individual transactions without necessarily seeing the full picture of an investor’s holdings and borrowing across multiple entities. If property values were artificially inflated, that could expose lenders to losses when borrowers stopped making payments and the homes entered foreclosure. Foreclosures can have consequences beyond the lenders and property owners involved. Tenants may face uncertainty about their housing, while neglected homes can affect neighbouring properties and complicate efforts to attract legitimate investment for rehabilitation. The case is not the only example of alleged property-value manipulation in Baltimore. For now, the lawsuits against Gold, Eidlisz and their alleged associates remain part of an ongoing legal process.
The Baltimore Banner’s earlier reporting brought attention to the investors’ extensive property acquisitions.